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Williams reports substantial loss for 2014
– Williams Grand Prix Holdings has reported a sizeable loss of £34.3m for 2014, although the company is adamant that its financial results will improve this year.Williams began a major restructuring process in 2013 in a bid to improve the performance of its struggling Formula 1 team and establish a profitable engineering business.Revenues thus fell from £130.4m to £90.2m in 2014, driven by the increased costs of competing in the sport and its ninth-place classification in the 2013 standings.However, the results do not reflect Williams' on track revival, which saw it jump to third position last season, with commercial rights revenue earned a year in arrears."The decision to...
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11y ago from GPUpdate.net
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