McLaren profits increase

The McLaren Formula 1 team has revealed a sharp rise in profits in the year ending November 2001. The team has put in returns which reveal that it made pre-tax profits of $48m, up from the previous year's $40m. The team has achieved these figures despite failing to mount a very successful campaign against Ferrari and Williams.

The company has also had to invest heavily in the construction of the new Paragon headquarters.

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