THE company behind the Williams F1 team has unveiled an upbeat set of financial figures.
Grove-based Williams Grand Prix Holdings, which floated on the Frankfurt Stock Exchange in March, saw its pre-tax profits rise by 37 per cent to £1.7m for the six months to June 30.
Chairman Adam Parr said: “Our core business has performed in line with expectations, with greater costs incurred in the first half.
“We have made several senior appointments in engineering and aerodynamics, bolstering our team devoted to improving track-side performance, and supporting our Jaguar Land Rover partnership.”
Founder and team principal Sir Frank Williams added: “The first half of 2011 shows momentum in our diversified growth, building on the foundations we laid in 2010.
“We have upgraded and extended existing partners, while our new partnership with Jaguar Land Rover was followed by an exciting alliance announced with Renault.”
Williams last won a Grand Prix in 2004. The team currently stands ninth on the constructors’ championship, having finished sixth in 2010.
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