Formula One Administration Ltd (FOA), the company behind Formula One’s commercial interests, up until January 2011, has seen its turnover increase to $1.1bn (£673m), up $19m (£11m) from the previous year.
The increase is largely down to the return of the Canadian Grand Prix and the new Korean Grand Prix in 2010.
The teams also received a larger share of the income. $658m (£402m) was divided between the twelve teams, although the amount received by each is dependent on their championship finishing position, Red Bull taking the most.
This figure is up by over 20% thanks to the first full year of the current Concorde agreement.
The commercial interests of the sport will now be handled by FOWC, Formula One World Championship Ltd. FOA will steadily be wound down.
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