McLaren CEO Ron Dennis Says Finances In Good Shape

McLaren CEO Ron Dennis said that his Formula 1 team "may not be having much success on the track but its finances have rarely been stronger." McLaren reported an "impressive swing back into profit last year thanks to the rising revenues from the sport and sponsorship." From a loss of about £3M in '12 because of "increased research and development spending," the McLaren Group raced to an £18.8M pre-tax profit last year. Turnover increased from £249M to £268M. INDEPENDENT