Milan — Ferrari served up more proof the Italian super-car maker can push through headwinds that have beset much of the automotive industry, delivering a rise in first-quarter profit that beat the highest estimate. The brand, selling sleek and powerful cars sought after by the mega-rich, has long sought a spot next to other luxury goods makers such as Hermès and Prada. On Tuesday, it delivered a 14% jump in adjusted earnings earnings before interest, taxes, depreciation and amortisation (ebitda). Growth in deliveries from the entry-level Portofino model helped offset the end of the sales of the $2.1m LaFerrari Aperta. The shares have risen the most in three months. “Ferrari’s first-quarter results confirm it’s sailing far away from current automotive industry trends,” IG Markets analyst Vincenzo Longo said. Ferrari “is reaffirming itself as a luxury brand with a clear value added.” While Ferrari reported a jump in profits and steep rise in shipments, other car makers have struggled ...

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