Summary:
Williams' profits have risen by more than a quarter, boosted by a strong performance from Jaguar Land Rover.

Full article:
(CNN) -- Formula One team Williams has announced an increase in profits for the first half of 2011. Despite enduring their worst season on the track, Williams Grand Prix Holdings recorded pre-tax profits were up 37% from $2.07 million to $2.7 million while turnover rose 5% from $71.8 million to $75.5 million. "Our core business has performed in line with expectations, with greater costs incurred in the first half," Williams chairman Adam Parr said, the BBC web site reported. "We have made several senior new appointments in engineering and aerodynamics, bolstering both our team devoted to improving track-side performance, and supporting our Jaguar Land Rover partnership," Parr added, the BBC web site reported. Williams founder and team principal, Frank Williams said the results built on the foundations laid in 2010 while highlighting "momentum in our diversified growth." "We have upgraded and extended existing partners, whilst our new partnership with Jaguar Land Rover was followed by an exciting alliance announced with Renault (who now provide their engines), which will further strengthen our medium-term performance both on and off the track," Williams said, the UK's Press Association reported.