Williams Grand Prix Holdings PLC (WGPH) has announced its annual financial results for 2013, confirming that its income increased by 25%.
The group confirmed that its overall income rose from £105.8 million in 2012 to £132.4 million last year, with Earnings Before Interest and Tax (EBIT) rising from £5.1 million to £12 million.
This contrasts with 2012′s results, where WGPH registered a loss before tax of £5 million. Within the 2013 figures, the Formula 1 team's income increased by 26% from £86.4 million to £108.5 million, which they put down to a 'special non-recurring sponsorship payment'.
This relates to Pastor Maldonado and his backer PDVSA's departure before the end of...
Full Story »