Britain leads bumper year for Ferrari

FERRARI may be struggling on the Formula One track, but its bank accounts are in fine shape after profits reached new record highs.

After delivering 3,631 cars in the first six months of the year – 3.6% fewer than the me period in 2013, in line with the company's plans to reduce deliveries – revenues were up 14.5% to almost £1.35 billion.

Profits rose 5.2% to £185 million, which should pay for a good send-off for the outgoing Ferrari Chairman Luca di Montezemolo after his 23 years of service.

And it's Britain leading the way in Ferrari sales in Europe, with 408 cars being sent to these shores between January and the end of June. Only 131 were delivered to owners in Ferrari's home market of Italy, although this figure is 13% higher than the equivalent 2013 statistic.

Japan and Australia have seen increases in deliveries, while political factors in China have led to a significant slow-down in Ferrari's imports.

Di Montezemolo said: “It gives all of us here at Ferrari a sense of great satisfaction to continue to achieve record financial results, particularly given that production was limited.

“I am sure that in a few months’ time, we will be marking the end of a truly extraordinary and unprecedented year. Sales will also increase by several percentage points to avoid excessively long waiting lists.”

By Press Association reporter