* Sees FY adj core profit 15 mln stg lower than expected
* Expects year-end cash balance of about 420 mln stg
* Demand for SUV model DBX drives up wholesales sales
(Adds CEO comment, background, share movement)
Jan 7 (Reuters) - Aston Martin said sales to dealers
in 2021 surged 82%, even as the British luxury automaker
forecast lower-than-expected annual adjusted core earnings due
to delays in shipments of its limited-edition Valkyrie sports
car.
Aston Martin said 10 Valkyries were shipped in the fourth
quarter, fewer than previously planned.
Aston Martin, fictional agent James Bond's carmaker of
choice, said it expected annual adjusted core earnings to be
about 15 million pounds ($20 million) lower than expected.
However, it said the Valkyries that had not yet been shipped
were already allocated to customers, with significant deposits.
"The Valkyrie programme is now running at rate for 2022
having focused on delivering with no compromises in the face of
supply chain challenges and huge complexity in the production
ramp-up which resulted in a timing impact for 2021," Chief
Executive Officer Tobias Moers said in a statement.
Overall, the company sold 6,182 cars last year, helped by
demand for its first sport utility vehicle, the DBX. Shares were
up 1.3% in early trade.
Pandemic travel restrictions have left many wealthy
consumers with more disposable income, fuelling demand for
premium and luxury cars.
On Thursday, another British luxury carmaker, Bentley,
reported a record year as global sales jumped 31%.
Since going public in 2018, Aston Martin shares have slumped
around 30% and the company has burnt through cash, prompting
billionaire chairman Lawrence Stroll to buy a stake in the
company as part of plans to raise money.
The company said its cash balance at the end of 2021 was
around 420 million pounds, higher than anticipated.
($1 = 0.7385 pounds)
(Reporting by Aby Jose Koilparambil and Chris Peters in
Bengaluru; Editing by Shounak Dasgupta and Kevin Liffey)