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McLaren Group record £175m loss in revenue
McLaren's financial struggles have been reflected in their Q1 financial records for 2020, reporting a revenue loss of £175million in the first quarter. A day after it was confirmed that McLaren Group are going to substantially cut its entire workforce by making around 1200 members of staff redundant (70 of which are to come from the F1 team) , the gloomy picture has continued to be painted. Overall first quarter revenue figures have dropped from £284million to £109million when compared to the same Q1 period in 2019, while McLaren Group's EBITDA currently sits at -£81million. Post-tax losses have also increased from £20million to £110million. As for McLaren Racing specifically,...
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5y ago from PlanetF1.com
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