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Williams report 'optimistic' 2013 results

Friday 02-May-2014 08:15

Although 2013 was not a good year for Williams out on track, the F1 team at least reported an increase in overall income.

Revealing their 2013 annual results, the Williams Group recorded a 25 percent increase in income to £132.4m while operating profit was up on the previous year.

In 2012, the Group's Earnings Before Interest & Tax was £5.1m while last year it was £12.0m.

Added to that, the F1 team's EBIT was up from £8.3m to £11.5m with income increasing by 26 percent. The team stated that the increase in earnings was "due primarily to a special non-recurring sponsorship payment."

Speaking about the results, Williams team principal Sir Frank Williams said: "Although 2013 was a difficult season for the team on the race track, we report these full year results at a time of much optimism for the Williams Group.

"We have started the 2014 Formula One season well and hope we can continue to improve our performance. We made good progress commercially through the winter months and Williams continues to attract an enthusiastic and very loyal group of partners and fans.

"These annual results demonstrate that we continue to manage our business in a fiscally responsible way and provide the foundation from which we can continue to grow."

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