Aston Martin's boss said the Brexit deal agreed by Britain and the EU is "good enough" but the company will not halt contingency plans while doubts remain over whether the agreement will be receive UK parliamentary backing.
The luxury carmaker, which listed on the London Stock Exchange last month, today posted a rise in third-quarter profit, doubling sales with the aid of strong demand in China.
Aston Martin shares have lost more than 20% of their value in the first few weeks since their October 3 market debut at £19.
The shares were down more than 7% today as analysts said revenue had fallen short of expectations.
Business has cautiously welcomed the Brexit agreement announced yesterday, which manufacturers hope will allow them to continue the complex flow of parts and finished models across borders.
"It appears to be good enough," Aston Martin's chief executive Andy Palmer told Reuters.
But asked whether that would allow the company to change any of its contingency planning, which includes potentially flying in components and changing ports to maintain its output, Palmer said there was not enough certainty at this point.
"You can't stand anything down yet. Yes, the cabinet have agreed, but the Tory party needs to agree and then parliament needs to agree, and I don't think any of that is that easy," he said
Andy Palmer has led a turnaround plan at the company since 2014.
Mr Palmer said a board meeting next month would decide whether to trigger such plans.
The luxury brand, which said it expected full-year sales to come in at the top end of expectations at up to 6,400 vehicles, warned of Britain leaving the bloc in March next year with no agreement, which could happen if parliament opposes the plan.
"No-deal Brexit is a disaster ... because you're into tariffs at the borders, you're into essentially logjams at the border, you're into discussions about your labour," he said.
Aston Martin said its third-quarter profit before tax rose to £3.1m as the newly listed carmaker continues a growth plan which saw its volumes double.
Total volumes increased 99% to 1,776 vehicles, helped by a 185% increase in the Americas and a 133%increase in Asia Pacific, leading to an 81% increase in revenue to £282m.
