Williams announce growth in half year financial results – Formula 1 news
Williams has announced its half year results unveiling a 57% turnover in their Formula 1 related operations, whereas their profits increased to 8.5 million pounds in 2012.
The half year result was up to June 30, 2012 and includes Williams Hybrid Power as well, but their main focus is over Formula 1.
Team principal of Williams, Frank Williams expressed his enthusiasm about the growth and said that it has happened because of their promising performances. He also admired his new team whose efforts have made them achieve such hallmark. They have also achieved
a substantial edge in terms of sustainability and safety.
He said, “Williams is at a very exciting stage in its history and these promising results are indicative of this. We have made good progress on track this year, thanks in part to a new technical team, which has seen us pick up our first win in eight years.
Our diversification strategy is also gaining momentum, positioning us as a leader in the development of cutting edge technology in areas such as sustainability and safety.”
The 57% turnover in Formula 1 related operations included the main traditional business and diversification using their Formula 1 derived property and expertise. The worth of the turnover after the increase is 73.0 m pounds against 46.4 million pounds in
2011.
Their profits have increased to 8.5 m pounds this year and the increase includes one due payment that was received after the new Concorde Agreement.
Williams currently attains 54 championship points and holds 8th position. They have only been able to attain 1 point in the Italian Grand Prix. The only point was attained by the Williams driver Bruno Senna who finished at the 10thposition.
Senna has mentioned that he could have achieved a better position in the Italian GP if he were not pushed off the track by the Force India driver, Paul di Resta. He completed his 53 laps with a gap of 48.1 seconds from the winner of the race Lewis Hamilton
of McLaren.
Let’s see how the Williams drivers perform in the remainder of the season to boost the financial growth of their team in the latter half of the year.
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