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Force India losses increased in 2016 despite bigger income
The Force India F1 team earned increased income in 2016 but made a bigger loss than in the previous year – mainly because of currency issues. Newly-issued accounts for the 2016 calendar year show that the Silverstone team generated income of £77.1m, up from £64.2m in 2015. However, the losses increased from £6.8m to £11.6m. The team says that the key element of the change was due to “an increase of £5.7m charged to the accounts due as a result of currency fluctuations to both EUR and USD related suppliers/creditors during the year and balances outstanding at the end of the year.” The accounts also reveal that the team received a payment of $15m from Diageo, owners of Johnny...
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7y ago from Motorsport.com
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