Dyson’s record profits buoyed by R&D and exports

Thursday,18 August 2011

Following increased investment in research and development and global expansion, Dyson achieved record profits of £206 million in 2010. Turnover increased to £887 million.

International expansion
80% of Dyson machines are sold outside of the UK. In 2010 Dyson launched in seven new markets, taking the total to 52.

Dyson now employs over 2700 people and is recruiting internationally.

Investment in technology
Dyson increased R&D spending to £45 million in 2010 and is on track to double the number of engineers at the Malmesbury R&D centre to 700. 200 new engineers joined the UK team in 2010, an increase of 66%.

More graduate engineers are joining, with a starting salary of £25,200 and a joining bonus of up to £3000.

Dyson engineers are currently developing of the next generation of fans, hand dryers, vacuum cleaners, digital motors and other – currently secret – technologies.

Investment in Dyson digital motor technology remains a priority, with a 70 strong team of motor specialists.

New technology
2010 saw six new Dyson machines:
• Profits were buoyed by new Air Multiplier fans, which had their first full year of sales. The tower and pedestal versions, designed for larger spaces, are popular for both domestic and commercial use.
• DC35 Digital Slim, Dyson’s latest cordless vacuum cleaner has become a global sell out.
• Vacuum cleaner sales continued to perform well despite the recession; the US has seen a big increase in sales.
• The Dyson Airblade™ hand dryer had its most successful year so far. Partnership with Initial will catapult Airblade into washrooms across Europe. Powered by the Dyson digital motor, it has the lowest environmental impact of any other form of hand drying.

British success
Dyson has grown at a fast pace, maintaining a steadfast focus on technology, and now employs more people in the UK than ever before. Malmesbury, Wiltshire remains Dyson’s research and development centre, where machines are conceived, designed, and developed.
88% of Dyson’s taxes are paid to the British Exchequer – £50 million in 2010.

James Dyson:
“We haven’t been afraid to take a risk – doubling our engineering team during a recession. The swelling ranks are working on new technology that is five or ten years away, as we plough our profits back into our lifeblood – R&D”.

Martin McCourt CEO of Dyson Ltd, commented:
“Recession is challenging but 2010 was a record-breaker. Geographical growth is significant but ongoing success comes from investing faith – and money – in people and their bright ideas.”

Notes to editors:
Year Turnover £m Operating Profit £m
2008 628 90
2009 770 190
2010 887 206

Research and Development:
• Dyson is expanding its UK R&D team to 700
• 200 new engineers joined the RDD team in Malmesbury
• R&D investment increased in 2010 to £45 million

People:
• Dyson employs 2,730 people worldwide; recruitment continues across all teams.

International sales:
In 2000 Dyson sold its machines in 22 countries. In 2005 this grew to 39. And by 2010 it reached 52.

The James Dyson Foundation:
• Dyson donated £4million to charity in 2010
• The James Dyson Foundation donated £100,000 to the RCA. Other donations to undergraduate bursary winners and postgraduates will total £1m over the next three years.

ENDS

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