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GP Week : Issue 116
Now called FanVision, the new G3 is available for sale with our best experience ever, including an ultra-bright 4.3 inch LCD screen, the ultimate in personalisation, more data, stats and camera angles than anywhere else. Our classic version is still available for weekend rentals. Experience Formula 1TM like never before. Save 20% when you reserve online! F1.FanVision.com There have been big changes at Kangaroo TV. YOUR RACE, YOUR WAY Get the next generation in fan enhancement. Click HERE to go to 12 Williams report increased profits for 2010 DESPITE failing to score a podium finish on-track in 2010, Williams was able to up its profit by almost a third after another strong year on the balance sheets of the Grove-based team. The team made a £7.7m (€8.8m) profit last year, £1.9m of which was pumped into Williams Hybrid Power and Williams Technology Centre Qatar, with the remaining £5.8m (€6.6m) representing a 28% increase on the £4.5m profit generated in 2009. The harsh economic climate of 2010 saw the team’s turnover reduced by almost 16% from £108.3m to £91m (€104m), but the team was still able to reduce its debt by almost £7m to just £2.4m (€2.7m). The results announcement was the first since Williams floated on the Frankfurt stock exchange on March 2nd, having sold 24% of the company to the public. 2010 was also a successful year for Williams’ hybrid power division after its flywheel pushed Porsche to victory with its 911 GT3R Hybrid. Towards the end of the year the team announced a long-term sponsorship deal with Venezuela’s PDVSA, in exchange for hiring Caracas-born GP2 champion Pastor Maldonado. “Commercially, 2010 has given Williams a solid foundation from which to grow,” began team principal Frank Williams. “Amidst one of the harshest sponsorship environments for a long time, we signed Petroleos de Venezuela S.A. (PDVSA) and upgraded and extended existing partners, Randstad and Oris. “ This year has seen us build on that with our joint venture with Jaguar Land Rover and we are looking forward to further developments with our new businesses, WHP and WTCQ.” Chairman Adam Parr was equally pleased with the year’s commercial results. “We are pleased to report a solid set of results for our shareholders. We enter 2011 in a stronger financial position with a strategy to take the business forward again over the coming years,” said Adam. “Our March IPO and listing on the Frankfurt Stock Exchange demonstrates investor confidence in Williams, and secures the team’s long-term future by providing a sustainable ownership structure.”