News Details
Williams clarifies reports of financial loss
By Editor on Friday, May 3, 2013 Williams has played down reports it suffered a financial loss last year, insisting instead that it is gearing up to expand.
Listed on the Frankfurt stock exchange, the British team this week revealed a pre-tax loss of almost $8 million last year, having turned a profit in 2011.
But spokesman James Francis said the financial report could not include almost $15 million in Formula One income.
'If that figure had been included we would have turned a loss into a profit,' he told the Oxford Mail.
'It would have been a smaller profit (than 2011), but a lot of investment has happened.'
The Williams spokesman said building work on a new research and development...
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