Chief executive Mike O’Driscoll said: “The improved performance of our Formula One team on the track is now reflected in both higher commercial rights income and increased sponsorship revenue.
“We will prioritise technological innovation, but simultaneously continue to balance our investment, with strong controls, during a time of rising costs for all constructors.”
The team has been one of the strongest on the circuit in the past two seasons, but has not won a race since Pastor Maldonado’s 2012 victory in the Spanish grand prix.
