RE: Morgan enjoys record year in 2018

RE: Morgan enjoys record year in 2018

Wednesday 6th February

Morgan enjoys record year in 2018

A huge bump in profits and new model on the horizon proves that sometimes the old ways are best



There's been plenty of tough news for the British automotive industry in recent weeks, what with JLR's struggles and Nissan relocating X-Trail production away from Sunderland. It's not all doom and gloom, though, with one of the UK's oldest marque's enjoying record success. Morgan has announced record profits for the third year in a row, its year-end financial results for 2018 seeing profits before tax increasing by over 95 percent from £1.73m in 2017 to £3.4m today.

The manufacturer credited increased efficiency at its Malvern factory and a five per cent increase in export orders for the boost, as well as orders in the final quarter of 2018 "exceeding all expectations." This is despite the company actually producing fewer models over the past year, with run-out editions of the V8 Aero GT and Plus 8 50th Anniversary Edition taking centre stage.


With those much-loved cars now a thing of the past, attention turns to the future. With 2019 seeing Morgan's 110th anniversary, the firm is gearing up to launch its next generation 'Wide Body' model. It's success over the past few years has allowed the company to invest heavily in R&D for that car - over £6.3 million during that time. This has resulted in the development of an all-new bonded aluminium platform which, when paired with the new bought-in powertrain - one "never before installed in a Morgan", but believed to be 400hp-plus turbocharged straight-six - is claimed to make the Wide Body the most dynamically capable production Morgan ever.

There'll still be plenty of wood, of course, Morgans always having been based on a metal platform of some description, so those worried by talk of potential future electrification of the model needn't worry that Malvern has lost its way completely. The quintessential Morgan styling we've all come to know and love isn't going anywhere either, as demonstrated by these "spy shots" supplied by Morgan. The classic testing disguise doesn't exactly work as well on a car with such distinctive design and large, flat surfaces, revealing the 'Wide Body' to look much like the love child of a 4/4 and Aero 8. No bad thing.

Speaking of both the company's 2018 results and future plans, Managing Director Steve Morris said: "Morgan Motor Company's continuing success can be attributed to three essential ingredients: our skilled workforce, our strategic vision and our heritage. Our results in 2018 have been extremely impressive and give us the solid foundation to move forwards into an important year for the business.


"We have waved a fond farewell to our iconic V8 models and are looking forward to entering the most exciting chapter yet, as we celebrate our 110th anniversary, with a new 'Wide Body' sports car due this year."

Chairman of Morgan Motor Company, Dominic Riley, added: "Our focus on a stable, profitable and innovative Morgan Motor Company is clearly represented in the year-end results. Ever-improving efficiency and rising gross margins are fantastic to see and have come about thanks to our shared strategic vision and the hard work by everyone at Malvern. Investment in R&D has never been higher and it is only fitting that this investment will benefit our customers for years to come."

Author
Discussion

griffdude

Original Poster:

1,485 posts

186 months

Wednesday 6th February
quotequote all
Blimey, that camouflage is effective in disguising it’s a Morgan.

Tired

259 posts

1 month

Wednesday 6th February
quotequote all
Good news.

Although I'm not sure I like the idea of a turbo'd Mog.

sgtBerbatov

881 posts

19 months

Wednesday 6th February
quotequote all
Morgan have successfully created a motorised Zebra.

scottos

261 posts

62 months

Wednesday 6th February
quotequote all
Great news for them, i really like the brand and would certainly have one of their cars if i could ever afford it as an addition.

Jellinek

194 posts

213 months

Wednesday 6th February
quotequote all
Marvellous! clap
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jeremyc

17,234 posts

222 months

Wednesday 6th February
quotequote all
Good news for Morgan, but you need to pay your sub editors more.

article said:
Morgan has announced record profits for the third year in a row, its year-end financial results for 2018 seeing profits before tax increasing by over 95 percent from £1.73m to £3.4m in 2017.
Probably meant to say: "Morgan has announced record profits for the third year in a row, its year-end financial results for 2018 seeing profits before tax increasing by over 95 percent from £1.73m in 2017 to £3.4m."

article said:
There'll still be plenty of wood, of course, Morgans always having been based on a metal platform of some description, so those worried by talk of potential future electrification of the model needn't worry that Malvern has lost its way completely.
But you meant: "There'll still be plenty of wood, of course, Morgans always having been based on a wooden platform of some description, so those worried by talk of potential future electrification of the model needn't worry that Malvern has lost its way completely."

smile

Dafydd Wood

37 posts

45 months

Social Media Manager

Wednesday 6th February
quotequote all
Yep, good catch on the first point, will change that now!

As for the second point, it says what I meant it to. People have been getting rather fraught elsewhere over Morgan using the new bonded-aluminium platform mentioned in the previous paragraph, but Morgans have always been based on a metal platform of some description, so there's nothing new there to worry about.


Andy665

2,279 posts

166 months

Wednesday 6th February
quotequote all
Well done Morgan, no bleating about Brexit or economic uncertainty, just keeping their down, concentrating on efficiency and things they can directly influence and reaping the rewards

Tired

259 posts

1 month

Wednesday 6th February
quotequote all
I'll be honest, I'm struggling with it.

What does that sentence actually mean?

Turbobanana

1,220 posts

139 months

Wednesday 6th February
quotequote all
Managing Director is called Morris.

Chairman is called Riley.

Damn, these guys are petrolheads.

MX6

3,935 posts

151 months

Wednesday 6th February
quotequote all
Ha, there's no disguising that is there! The shape looks even more oldy worldy that the Aero 8, they don't appear to be pandering to modern design fashions. Good to hear that Morgan are going well as a business and still making unique cars.

don29

320 posts

143 months

Wednesday 6th February
quotequote all
Don’t Morgan have a 2 year waiting list? In which case these are orders being filled from from 2016. Will be interesting to see their 2019 results.

redroadster

835 posts

170 months

Wednesday 6th February
quotequote all
Great stuff so nice to hear .

markcoopers

280 posts

131 months

Wednesday 6th February
quotequote all
I used to have an Aero 8, and for me the modern take on the traditional styling was part of the appeal. These spy shots suggest a move back towards the traditional......Shame, i would have preferred a more modernised evolution of the Aero line. Either way Well done chaps and looking forward to the test drive.

Turfy

668 posts

119 months

Wednesday 6th February
quotequote all
Turbobanana said:
Managing Director is called Morris.

Chairman is called Riley.

Damn, these guys are petrolheads.
Old CEO was called Morgan before he was shafted by his greedy board and shareholders...

swisstoni

7,370 posts

217 months

Wednesday 6th February
quotequote all
So often overlooked when talking about British car makes.

Nerdherder

437 posts

35 months

Wednesday 6th February
quotequote all
Can those wartime covered slit headlamps be added to the options list please? Thnx.

andymac

105 posts

221 months

Wednesday 6th February
quotequote all
Except for giving it an invisible blanket ..you just know that's a Morgan !

Good luck to them ..a great company heads down that plods along making new cars look well like the old ones..marketing genius !



millen

211 posts

24 months

Wednesday 6th February
quotequote all
I do wish buyers of exciting cars would be bold enough to go for an exciting, extrovert paint job like this smile Might not cost much more than a pack of dubious-value options and would bright up dreary grey traffic jams, not to mention hasten retrieval from large car parks. Surely there's no law against it? There was something of a tradition within the aerobatic community to do 'exciting'.

wst

3,174 posts

99 months

Thursday 7th February
quotequote all
Tired said:
Good news.

Although I'm not sure I like the idea of a turbo'd Mog.
I came around to the idea fairly quickly, but it'd be a bit more authentic to have a geared 2 speed supercharger for when you're cruising at altitude.