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Birmingham Post
Birmingham Post
Business
Jon Robinson

Bentley just made more profit in six months than it did in the whole of 2021

Half-year profits at Bentley Motors have jumped past the total the luxury car maker achieved in the whole of 2021, new figures have revealed.

The Crewe-headquartered company has posted operating profits of €398m for the first six months of the year, higher than the record €389m it achieved during 2021.

Bentley's revenue also increased by 29% to €1.707bn with its sales rising by 44% in the UK to 795, 33% in Europe to 1,524, 18% in Asia Pacific to 916 and 1% in the Americas to 2,068.

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However sales did fall by 25% on the Chinese Mainland, Hong Kong, and Macau to 1,621 because of extended Covid-19 lockdowns and by 9% to 474 in the Middle East.

Bentley added that the outlook for the second half of the year "remains challenging".

The best-selling Bentayga luxury SUV claimed 40% of total sales, with the latest Flying Spur sedan accounting for 27%, and the Continental GT Grand Tourer recording 33%.

Chairman and chief executive Adrian Hallmark said: "Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company in line with our Beyond100 strategy and form a basis to withstand further external shocks.

"In particular, a significant increase in demand and capitalisation of our Mulliner personalisation programme has driven record return on sales, and continued global interest in the freshest model line in the luxury sector has resulted in record high revenues.

"I would like to thank our hard-working colleagues for their continued efforts, as Bentley continues its ground-breaking transformation towards an electrified future, financial independence and to be the leader in sustainable luxury mobility."

Jan-Henrik Lafrentz, member of the board for finance and IT, added: "Bentley has continued to focus its efforts on building sustainable, long-term profitability.

"These results reflect a strong base pricing position, increased revenue through optionality and favourable foreign exchange rates.

"In parallel, we continue to maintain our lower cost base which is leading to a restructured business model that is delivering strong returns on our investment and sales."

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