Ferrari profits soar by 20 per cent

Ferrari sales soar

Ferrari’s profits soared by more than 20 per cent in the first nine months of 2013, the Italian supercar giant revealed.

The company’s trading profit rose by 20.2 per cent to €264million ($352million) and net profit accelerated by 23 per cent to €178.8million ($24omillion).

The increases come after the legendary firm put into place a new strategy last May to limit the number of cars produced so as to maintain exclusivity.

There were 5,264 new Ferraris sold in the first three months of the year. The company’s coffers are also at record levels with €1.35billion ($1.8billion) in the bank.

Ferrari chairman Luca di Montezemolo said: “I am very satisfied with the results for the first nine months of 2013. They are the fruit of our constant focus on exclusivity, which guarantees significant returns for our shareholders as well as growing numbers of services for clients.

“The revenues from personalisation programmes and Ferrari Classiche’s activities (restoration of classic cars) ably demonstrate this fact and the latter will receive an additional boost when a dedicated centre for collectors opens in the US. We have also maintained our high level of investment in product development and employment: in fact, this year we have already taken on 200 new staff.”

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