News Details
McLaren Group reveals 61 per cent revenue reduction
McLaren Group has posted a substantial year-on-year reduction
in revenue for the first quarter, with its Formula 1 team also suffering,
ostensibly due to the coronavirus pandemic. McLaren Group is composed of Automotive, Applied and Racing,
with its Formula 1 team operating in the latter of the three. The Group revenues for Q1 2020, released on Thursday, stand
at £109m, a reduction on £284 compared to the same period in 2019. ADVERTISEMENT Its reported EBITDA now stands at -£81m, down from £22m while post-tax losses increased from £20m to £110m. Related Posts Dutch Grand Prix return pushed back until 2021 May 28, 2020 McLaren braced for painful restructuring amid cost cap May...
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5y ago from MotorsportWeek.com
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