Williams Grand Prix Holdings has announced an improved financial performance for the year to December 31 2011, with overall earnings up by 14.8% or £13.5m.
A company statement said: “On a like for like basis the core business, which combines the traditional Formula One business and diversification using our Formula One derived IP, has seen turnover increase from £90.8m to £102.3m, and EBIT increase from £8.2m to £9.8m. This has driven an overall Group turnover of £104.5m (2010: £91m) and an EBIT increase of 20.6% to £7.6m.
“The results of the investment businesses, Williams Hybrid Power and Williams Technology Centre Qatar, are growing as expected and are in line with the board’s long-term business plan.”
Regarding the improved performance, Williams chairman Adam Parr added: “The Group has enjoyed a strong performance over the last 12 months, in spite of continuing difficulties in the global economy. Our 2011 Annual Report shows strong results and our current cash position is excellent. At 29th February 2012, the Group held net cash of £29.2 million. We can therefore look ahead with confidence.
“We have made a number of new technical appointments that will strengthen our performance in Formula One and we are delighted with our new partnerships with Renault in Formula One and Jaguar on the C-X75 hybrid supercar project. Our new business developments across Williams Hybrid Power, Williams Advanced Engineering and the Williams Technology Centre Qatar are delivering promising results.”
Adam Cooper F1 
Williams is to F1 as Arsenal is to the EPL