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Aston Martin Lagonda Global Holdings PLC (LSE:AML) shares rose almost 5% to 42p after the supercar maker reported higher revenue and profit margins in the first quarter, and said it had agreed a new £50 million funding injection. 

Revenue rose 16% to £270.4 million in the quarter, while gross margin widened to 34.7% from 27.9% a year earlier, driven by higher average selling prices, deliveries of its Valhalla model and benefits from the ongoing transformation plan.

Adjusted EBIT loss narrowed to £56.9 million from £64.5 million, while operating loss reduced sharply to £8.9 million.

Wholesale volumes were broadly flat at 939 vehicles, though retail demand outpaced supply as the company maintained a disciplined production approach.

Average selling prices rose 17% to £252,000, reflecting increased deliveries of higher-value Specials, including 102 Valhalla units.

Net debt increased to £1.46 billion by the end of March. Liquidity has been boosted by a new £50 million facility from the Yew Tree Consortium, which is the investment vehicle linked to executive chairman Lawrence Stroll, and proceeds from the sale of Formula One naming rights.

Chief executive Adrian Hallmark said the group is “on track to deliver material financial improvement this year”.

This should be driven by an "enhanced product mix and benefits from the ongoing transformation programme and disciplined approach to operations".

Margins and performance are both expected to improve as deliveries ramp up through the year, including around 500 Valhalla deliveries, and a "more balanced production cadence" on models from the secoind quarter onwards.