Williams boosts revenue after third-place finishes in Formula 1 championship
British racing giant Williams refuelled its balance sheet last year thanks to a better finish in the Formula One constructor’s championship and lucrative new deals with BT and Unilever.
The third place finishes in 2014 and 2015, plus a clutch of fresh commercial tie-ups, added more than £30 million to F1 sales.
It took overall revenues – which includes cash from its engineering division — to £125.6 million from £90.2 million.
The group boasts star racer Felipe Massa as its top driver and was set up by Sir Frank Williams in 1977.
The revenue boost narrowed pre-tax losses last year (of £11.2 million) but chief executive Mike O’Driscoll said £2.7 million of free cashflow puts it on a stronger footing.
“There’s more progress we need to make but we’ve got a solid foundation - so far, so good.”
The group also helped work on the creation of the C-X75 car for Jaguar Land Rover used in the latest James Bond film, Spectre.
