Williams release strong figures ahead of new F1 season WGPH, which includes Williams Grand Prix Engineering Limited and Williams Hybrid Power Limited, has seen turnover increase from £91million to £104.5m for the year ending Dec 31, 2011. Earnings before interest and tax also increased from £6.3m to £7.6m, resulting in a 30 per cent rise in net profit from £6m to £7.6m, with earnings per share up 34.6 per cent from 60.26p to 81.10p. The company floated on the Frankfurt Stock Exchange 12 months ago, becoming the first Formula One team to do so, only to see its share price fall swiftly as the team made a horrendous start to the season. Williams, currently searching for a new title sponsor following the departure of AT&T, are feeling the winds of change. Co-founder Patrick Head has left the race team, while Sir Frank Williams is standing down from the board at the end of the month, although he will remain as team principal and majority shareholder. There is an all-new technical team in place, a new engine supplier in Renault and a new driver in Bruno Senna - nephew of the late triple champion Ayrton Senna - alongside Venezuelan Pastor Maldonado. Chairman Adam Parr believes the company is well placed to grow. "The Group has enjoyed a strong performance over the last 12 months, in spite of continuing difficulties in the global economy," Parr said. 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. We have made a number of new technical appointments that will strengthen our performance in Formula One and we are delighted with our new partnerships with Renault in Formula One and Jaguar on the C-X75 hybrid supercar project. Our new business developments across Williams Hybrid Power, Williams Advanced Engineering and the Williams Technology Centre Qatar are delivering promising results.