Williams Grand Prix Holdings has revealed interim financial results for the first six months of 2011, having floated on the stock exchange earlier in the year.

The holding company, which includes Williams Grand Prix Engineering, saw turnover increase by five per cent to ?47.3 million while a core profit before tax was also up to ?2.9 million thanks to a combination on increased revenue and reduced costs.

Earnings per share have also increased by 49 per cent.

"The first half of 2011 shows momentum in our diversified growth, building on the foundations we laid in 2010," Sir Frank Williams said. "We have upgraded and extended existing partners Randstad and Oris, and added Interbrand as a new partner.

"Our new partnership with Jaguar Land Rover was followed by an exciting alliance announced with Renault, which will further strengthen our medium term performance both on and off the track."

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