LONDON, Sept 10 A new Formula One commercial
agreement helped to boost first half profit and turnover for
Williams Grand Prix Holdings, the former champion
motor racing team.
Net profit for the British-based team rose to 6.6 million
pounds ($10.6 million) from 1.9 million pounds in the first six
months of the year, while turnover increased to 74.3 million
pounds from 47.3 million a year earlier.
Williams, one of the 12 teams on the Formula One grid,
listed on the stock market in Germany last year.
All of the leading teams except for Mercedes have signed a
new deal to remain in the sport until 2020 in return for a
greater share of revenues.
Financial details of the agreement are not disclosed but
Williams said a one-off payment had helped to boost its results.
Williams was once a dominant force in Formula One but has
struggled in recent years and is only 8th in the constructors'
championship - the team rankings - this season.
However, founder and team principal Frank Williams struck a
"We have made good progress on track this year, thanks in
part to a new technical team, which has seen us pick up our
first win in eight years," he said.
"Our diversification strategy is also gaining momentum,
positioning us as a leader in the development of cutting edge
technology in areas such as sustainability and safety."
Williams driver Pastor Maldonado of Venezuela won the
Spanish Grand Prix in May but has struggled since then, picking
up a series of penalties for race incidents. Maldonado brings
the team their biggest-paying sponsor in the form of Venezuelan
state oil company PDVSA.
Brazilian Bruno Senna, the other Williams driver, is just
below Maldonado in 16th place in the drivers' standings.