Mercedes-Benz Grand Prix recorded a jump in revenues in 2022 aided by a bump in sponsorship and its work on the America's Cup sailing championship, despite a disappointing Formula One season.
Revenues at the British company behind the racing team jumped by 24% to £475m in 2022, with pre-tax profits rising to £113m from nearly £72m the year before.
In March, it approved a £75m dividend to shareholders related to its performance in 2022, up from £55m paid in 2022 based on its 2021 performance, according to accounts filed at Companies House yesterday.
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