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Williams group posts £5m loss for 2012
Williams Grand Prix Holdings - the group of companies which includes Williams Grand Prix Engineering - has posted a £5million loss for 2012. The group made a profit of £7.4m in 2011 but puts the latest results down to 'the impact of a technical accounting treatment of one of the Group's key receipts during the year'. Despite an improved performance on track last year - which included winning the Spanish Grand Prix - Williams Grand Prix Engineering itself posted a loss of £0.6m, but turnover increased by 21.5% to £124.3m. Williams founder and team principal Sir Frank Williams said the on-track progress was encouraging for the core business. "2012 saw Williams make encouraging...
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