Claire Williams - running dad's company into the ground?
Williams Grand Prix Holdings PLC (WGPH, Ticker: WGF1) today announced the Group’s interim results for the six months to 30 June 2019. WGPH is the ultimate holding company of the Williams group of companies, which includes Williams Grand Prix Engineering Limited and Williams Advanced Engineering Limited.
Group revenue was lower in the first six months of 2019 at £77.8m, compared to £82.6m in the same period last year. The EBITDA loss widened to £18.8m during the first half of this year, from £2.7m in the prior year. The Formula One operation generated revenue of £46.3m in the six months to 30 June 2019 (2018: £60.7m) with an EBITDA loss of £16.8m (2018: profit of £0.2m). Williams Advanced Engineering increased revenue to £30.9m in 2019 (2018: £21.5m) with an EBITDA of £2.5m (2018: £2.2m).
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