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Williams reports £34.3m loss in 'year of transition'
Williams Grand Prix Holdings PLC today announced the Group's financial results for the year ended 31 December 2014. WGPH is the holding company of the Williams group of companies, which includes Williams Grand Prix Engineering Limited. In 2013, following a number of years of deteriorating performance, Williams embarked on a turnaround strategy to reinvigorate the performance of the Formula One team and put in place the foundations for a profitable engineering business. Consequently, and as anticipated, 2014 was a year of transition and the financial results reflect a year of higher costs in a sport in which commercial rights revenue is earned a year in arrears. The Group has reported a...
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