Williams shows profit despite tough 2013 season 3 May, 2014 Williams Formula 1 team 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 commercialize its racing...
Full Story »