Mercedes post 2015 financial report

Mercedes have posted their losses sustained during the 2015 season.

Mercedes-Benz Grand Prix Ltd the official company name of Mercedes AMG Petronas Formula One Team, recorded a loss of £22.3 million after tax.

In the report, signed by the German manufacturer's motorsport boss Toto Wolff, Mercedes said they "exceeded expectations yet again" and they were "able to maintain or improve upon the high standards set during the record-breaking 2014 season".

The team also recorded a turnover of £66.3, which came from increased prize money following their 2014 double title triumph, and more sponsorship revenue.

They also noted £8.1 million increase in operating costs, as well as "a decrease of £4.1m in consortium tax relief claims".