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McLaren sees profits rise to £23 million
McLaren enjoyed a 44 per cent rise in its annual profits in 2011 according to its latest set of accounts. The outfit posted profits of £22.9 million thanks to a 15% increase on its 2011 turnover of £172.3m. The prior financial year it made just £15.8m after the withdrawal of Mercedes' substantial backing which is believed to have cost the team upwards of £30m. However increased sponsorship expenditure from title sponsor Vodafone, which according to the Express rose from £40.5m to £46.8m in 2011, accounts for a portion of the increase. The team finished second in the Constructors' Championship in 2011, therefore they will likely see a drop in...
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13y ago from TheF1Times.com
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