February 28, 2019 / 7:48 AM / 3 months ago

Aston Martin boss says Brexit delay would prolong uncertainty

LONDON, Feb 28 (Reuters) - A delay to Brexit would be a "further annoyance" which would prolong uncertainty, the boss of luxury carmaker Aston Martin told Reuters after Prime Minister Theresa May promised to give lawmakers a vote on extending the date Britain leaves the EU.

"I would categorise it as a further annoyance," said Chief Executive Andy Palmer.

"You're holding that contingency stock for longer which means that your working capital is tied up for longer."

"More importantly, what you're doing is you're creating continued uncertainty," he said.

Aston Martin, which floated on the London Stock Exchange last year, posted on Thursday a 26 percent rise in 2018 volumes and a 25 percent increase in revenues but adjusted pre-tax profits fell 7 percent to 68 million pounds ($90 million) before one-off cost related to its initial public offering. ($1 = 0.7528 pounds) (Reporting by Costas Pitas; editing by Guy Faulconbridge)

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