Ferrari posts a profit surge as it points to rising orders

A closeup of a Ferrari badge (Alistair Wilson 50/50/PA)

Luxury sports car maker Ferrari has surged back to second-quarter growth, posting a 206-million-euro (£176 million) profit after seeing its earnings drop precipitously in the same period a year ago due to the pandemic shutdown.

Based in the northern Italian city of Maranello, Ferrari said net profit for the three months ending June 30 compared with nine million euros last year, when the company was forced to shut production for seven weeks.