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Williams announce financial results

Williams Grand Prix Holdings announces its 2011 financial results
Williams has announced an increase in profits for the for the financial year ending December 31 2011, despite the on-track struggles endured by the team last year.

Williams Grand Prix Holdings, the parent company for the Williams F1 team as well as Williams Hybrid Power Limited, has seen profits rise by 30 per cent from £6.0 million to £7.8 million, while turnover is up 12.7 per cent to £104.5 million.

In terms of the core business, which includes its F1 related activities, turnover increased to £102.3 million while profits rose to £9.6 million.

“The Group has enjoyed a strong performance over the last twelve months, in spite of continuing difficulties in the global economy,” chairman Adam Parr said. “Our 2011 Annual Report shows strong results and our current cash position is excellent. At 29th February 2012, the Group held net cash of £29.2 million. We can therefore look ahead with confidence.

“We have made a number of new technical appointments that will strengthen our performance in Formula One and we are delighted with our new partnerships with Renault in Formula One and Jaguar on the C-X75 hybrid supercar project. Our new business developments across Williams Hybrid Power, Williams Advanced Engineering and the Williams Technology Centre Qatar are delivering promising results.”

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dave - Unregistered

March 09, 2012 11:15 AM

I think that Frank has protected and preserved Williams' place on the grid through the years through continued fiscal responsibility. Others have come and gone, yet here they are with a much improved car and a bank account in the black. Other teams can only wish. Pay drivers irk me a little, but every driver's worth is determined by ability and how much money they bring, or can generate, for the team. And after all, Williams did make an attempt to sign Kimi. Who else of quality and reputation was available? I think having Frank and Patrick step away from the team will improve their business position, and I suspect the race team as well. They have been a bit stagnant in development but that seems to be changing. Here's hoping...

Mansell - Unregistered

March 09, 2012 3:59 PM

15 years too late. Williams had to go this route 15 years ago but instead Frank was too full of himself first he let Adrian Newey go because Williams was too good for him and then reject many innovation partnerships. Sir Frank Williams built and destroyed Williams all by himself.

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