Williams F1 has returned to profit in its latest financial figures. The F1 arm of the company reported a £0.2million profit, following a £31.5million loss in 2014.
Williams said the improved results are "primarily due to
increased commercial rights and sponsorship income following a
significant improvement in on-track performance during the 2014 Formula 1
season".
Williams Grand Prix Holdings PLC, the holding company of the
Williams group of companies, saw its revenue increase from £90.2million
in 2014 to £125.6million last year.
It reduced its EBITDA from a loss of £37million in 2014 to a
loss of £31.5million, as it published its financial results for the year
ending December 31 2015.
"Our 2015 financial results represent a major improvement, with
strong revenue growth and positive cashflow," said CEO Mike O'Driscoll.
No comments:
Post a Comment