Williams Grand Prix Holdings has announced an increase in profits in its interim results for the first half of 2012.
Williams said the first half of the year has resulted in a turnover increase of 57 percent to £73.0m ($117m). Its net profit has increased to £6.6m ($10.6m), a significant increase over last year's mark of £1.9m ($3m).
The team said the increases are partly a result of the new commercial agreement reached in Formula 1.
"Williams is at a very exciting stage in its history and these promising results are indicative of this," said team boss Frank Williams. "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.
"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."