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Williams group posts £34.3m loss for 2014
Williams Grand Prix Holdings has announced a substantial £34.3m loss for 2014, but insists it is simply the legacy of the struggles associated with its lowly placing in the 2013 constructors' standings. The group underwent a restructure in 2013 in an effort to revive the fortunes of its flagging F1 team, as well as place greater emphasis in its profitable engineering business. As such, Williams claims 2014 was considered a year of transition, which is thus reflected in its final results. Consequently, with higher costs in a sport in which commercial rights revenue is earned a year in arrears, the group reported a revenue of £90.2m (2013: £130.4m), with an EBIT of (£34.3m) (2013:...
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