Williams may have endured its worst-ever season in Formula 1 last year, but the publicly traded company has reported an increase in profits.
The British squad announced on Friday its Group results for 2011, and it reported a lift in both turnover and profits. Turnover of its F1-related activities has increased from $143m to $160m, with the figure for the whole Group going from $143 million in 2010 to $164m last year. Net profit for the group increased by 30 percent, from $9 million in 2010 to $12.2m last year.
Williams chairman Adam Parr said: "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. In February 2012, the Group held net cash of £29.2 million ($45.9m). We can therefore look ahead with confidence."