Williams made a profit of more than £4 million during the first half of 2016, according to its latest financial results.
After taking a big hit in 2014, Williams reported a return to profit at the start of this season thanks to the increase in prize money for finishing third in the constructors' championship that season. This year, it has reported a pre-tax profit of £4.1 million for the F1 team, which is a vast improvement from the £1.6 million over the same period last year.
Revenues for the team are slightly down, £51.3 million this year so far compared to £.51.4 million for the first half of 2015. However, the Williams Advance Engineering branch of the company increased its revenues by nearly £10 million, making a profit of £3.5 million compared to £0.1million last year.
Williams managing director Mike O'Driscoll said: "The Formula One business generated an EBITDA profit of £4.1m for the first half of the year, with the increased year-over-year profit due to a non-recurring sponsorship payment. After finishing a strong third in the Constructors' Championship the past two seasons, and out-performing teams with much larger budgets, the team is in fourth place in this year's Championship. The evolving Formula One regulations dictate a significant change in car design for the 2017 season, which we embrace enthusiastically as an opportunity to make a step forward in our track performance."
Williams is likely to face a financial downturn next year, having slipped into a battle for fourth with Force India and with significant regulatory change coming in 2017. The team has also said there will be an impact from Brexit, the U.K's decision to leave the European Union, which has seen the pound lost value in the last few months.
O'Driscoll acknowledged this, saying: "There are headwinds that we must face in the second half of 2016 and into 2017, notably the increased costs that are incurred during a period of regulatory change in the sport, and predicted uncertainty in many world economies, and this will impact our near term results."