The team finished third in the constructors' championship last year and success had continued into 2015, the company said.
Felipe Massa is currently in fifth place in the drivers' championship with 82 points, while Valtteri Bottas is sixth with 79 points.
However, Mercedes' Lewis Hamilton leads the pack with 227 points.
Williams is in third place on the constructors' leader board with 161 points for this season, but that is some distance behind Ferrari on 242 points and Mercedes on 426 points.
Mr O'Driscoll said the recent agreement of a multi-year contract with global defence firm General Dynamics underlined the progress being made by the engineering division.
But he added: "We face continued cost pressures due to the spending levels of our major Formula 1 competitors, and this challenging environment will undoubtedly continue in the near term.