Williams announces income increase

By on Friday, May 2, 2014
Williams Martini Racing

Williams Martini Racing

Williams Grand Prix Holdings has announced an income increase in 2013 compared to their 2012 results.

The Group's overall income increased to £132.4m, up from £105.8m in 2012.

Williams's Formula 1 income increased to £108.5m, up from £86.4m in 2012, largely thanks to 'special non-recurring sponsorship payment', which is thought to be linked to PDVSA's departure at the end of 2013.

"Although 2013 was a difficult season for the team on the race track, we report these full year results at a time of much optimism for the Williams Group," said founder and team principal Sir Frank Williams.

"We have started the 2014 Formula One season well and hope we can continue to improve our performance. We made good progress commercially through the winter months and Williams continues to attract an enthusiastic and very loyal group of partners and fans.

"These annual results demonstrate that we continue to manage our business in a fiscally responsible way and provide the foundation from which we can continue to grow."

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