The financial reports reveal that Williams Formula 1 has a good strategy in place.
The team has been in doldrums for about a decade. However, having invested in F1 operations since 2014 the team seems to be getting back on the ground financially. The independent F1 team might not be looking rosy as yet this year, but the season is yet to unfold.
The team has had two finishes in third places. That in turn has attracted several sponsors. That in turn has boosted the revenues of the F1 team of the company. The team has reported profits this year and hopes to improve upon the same after incurring over a million in losses in 2014. The company has also seen profits coming in from the division of Advanced Engineering. The company has its core expertise in motor sport and automotive but it is now expanding to defense as well as aerospace.
The two new business areas are poised for growth. Also, as these divisions go on longer contracts and are less cyclical in nature, O’Driscoll feels that it will bring instability for the company. (more…)