Mercedes F1 in pole position after results driven up

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Mercedes F1 in pole position after results driven up

Turnover and profits were driven up at Formula One champions Mercedes-Benz during their latest financial year, newly published accounts have revealed.

The team, who are based in Brackley, Northamptonshire, have posted a turnover of £363.6m for the 12 months to 31 December 2019, up from £338.3m.

The accounts filed under Mercedes-Benz Grand Prix also show the team's pre-tax profits grew from £15.4m to £17.1m over the same period.

The team are currently on track to claim the constructors and drivers titles for a seventh year running this season.

Mercedes-Benz re-entered F1 in 2010 after its owners, Daimler AG, bought a stake in the Brawn GP team.

Principle and chief executive Toto Wolf said: "The directors are proud and enthusiastic to be completing in the 2020 season and are committed to maintaining the impressive record of achievement since 2014.

"As a high-technology business, the team can adapt competitively and to changes in its operating environment and will continue to invest in its capability and culture to ensure medium and long-term success both on and off track."

During the 2019 season, the team achieved 15 race wins, nine one-two finishes and 32 podiums between their two drivers.

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