Finance Notes: McLaren CEO Ron Dennis Says Club's Finances In Good Shape

McLaren CEO Ron Dennis said that his Formula 1 team "may not be having much success on the track but its finances have rarely been stronger." McLaren reported an "impressive swing back into profit last year thanks to the rising revenues from the sport and sponsorship." From a loss of about £3M in '12 because of "increased research and development spending," the McLaren Group raced to an £18.8M pre-tax profit last year. Turnover increased from £249M to £268M (INDEPENDENT, 9/11). ... Australian retailer Auzzie Outdoors is "set to open its first offline outlet store in Shanghai, a big move in its approach to the new market after one year of online retailing experience in the country." The retailer will introduce Chinese customers to Australian brands such as Outdoor Expedition, Asana and Arctics Star, "as well as some private and exclusive labels." It offers "products covering travel, running, aquatics, camping, hiking, yoga, racket sports, skiing and others" (SHANGHAI DAILY, 9/11).