The improved track performance of the Williams F1 team was reflected in the interim results of the parent company yesterday with Williams Grand Prix Holdings reporting increased revenues and reduced debt.

“The improved performance of our Formula One team on the track is now reflected in both higher commercial rights income and increased sponsorship revenue, bolstering our financial results,” said chief executive Mike O’Driscoll.

The holding company re-ported overall revenues for the six months to June 30 of £63.2 million, up from £44.1 million last year.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) showed a loss of £1.4 million compared to £19.6 million in 2014.

The Formula One division saw revenues increase to £51.8 million from £34.6 million in the same period last year.

Net debt was reduced from £26 million to £19 million.

Williams ended last season in third place after plunging to ninth in 2013, when they scored only five points. They are currently third in the constructors’ standings, behind champions Mercedes and Ferrari.

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