News Details

Lotus records £64 million loss during 2013

The Lotus F1 Team has recorded losses of £64 million during the financial year of 2013 according to its latest accounts. The losses come just days after team co-owner Gerard Lopez dismissed talk of financial problems at the Enstone outfit. A report in Forbes states the loss is a result of inter-company loans between the team's owner, Genii Capital, and the interest accrued on those loans. The 2013 accounts show that revenue was stable at £92.6m ($154m), but net losses rose by almost £10m ($16m) as interest payments increased to £13.5m ($22.5m). The increase in interest payments is down to the fact loans to the company have almost doubled to £125m ($208m),...
Full Story »
3mo ago from TheF1Times.com 0
Share

You May Also Be Interested In...

Lotus reveals £64m loss

Days after team owner Gerard Lopez dismissed talk of financial problems...
3mo ago from Pitpass.com

Lopez hits back at Genii financial reports

Lopez hits back at Genii financial reportsPosted On 19 Aug 2014By :...
3mo ago from ThisIsF1.com

Lopez dismisses talk of Lotus financial problems

Whilst admitting that his team has lost money, Lotus owner Gerard Lopez...
3mo ago from Pitpass.com

Tobacco company plays down Lotus rumours

Imperial Tobacco has played down reports it is looking to return to...
3mo ago from GrandPrix.com

Comments

comments powered by Disqus

Hottest News

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.