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Williams increases income by 25%
Williams Grand Prix Holdings PLC (WGPH) has announced its financial results for 2013, with income increased by 25%. The company's income grew from £105.8m in 2012 to £132.4m in 2013, thanks largely to what WGPH describes as “a special non-recurring sponsorship payment, which drove an increase in Formula One income to £108.5m (2012: £86.4m)”. It is likely that it relates to the departure of Pastor Maldonado and his backer PDVSA before the end of Williams' sponsorship deal with the Venezuelan oil company. Williams was also able to boast an overall profit of £12.0m before interest and tax, up £6.9m compared to 2012. The figures do not take in to account the sale of the Williams...
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