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F1 NEWS 

Williams Formula 1 team reports increased profits

Bruno Senna, Williams, Catalunya testing 2012Williams may have endured its worst ever season in Formula 1 last year, but the company has reported an increase in profits.

The Grove-based outfit announced on Friday its Group results for the year ended December 31, 2011 - and it reported a lift in both turnover and profits.

Turnover of its F1 related activities has increased from 90.8 to 102.3 million, with the figure for the whole Group going from 91 million in 2010 to 104.5 million last year.

Net profit for the group increased by 30 percent from 6 million in 2010, to 7.8 million 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. At 29th February 2012, the Group held net cash of 29.2 million. We can therefore look ahead with confidence."

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