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Williams drives back into the black

Formula One team Williams returned to profit last year, despite a poor season on the track for the former world champions, helped by a one-off payment from outgoing sponsor PDVSA. State-owned Venezuelan oil company PDVSA paid out for an early termination of its sponsorship deal when driver Pastor Maldonado left Williams for Lotus at the end of last season. That payment helped Williams, the only Formula One team with a stock market listing, to increase revenues to 132 million pounds ($223 million) in 2013, from 106 million the previous year. The group, which is developing an engineering business to commercialise its racing technology, reported an operating profit of 12 million pounds, a...
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