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McLaren reports big loss for 2014
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The McLaren Technology Group just filed its accounts for the year ending December 31, and reported a pre-tax loss of £22.6million. The company, which encompasses McLaren's production, engineering and racing activities, said it had slipped into the red as a result of a material revenue shortfall of approximately £13million associated with a loss of sponsorship and prize money following a disappointing 2014 race season, together with restructuring and development costs. It its statement, McLaren Chairman Ron Dennis said: "Formula 1 is and always will be a core area of activity for us." He also added that he aimed to make the firm about more than Formula 1,...
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