Dyson profits rise on exports and new products
- Published
Mr Dyson said his firm wasn't afraid to take a risk by investing in R&D
British bagless vacuum cleaner manufacturer Dyson has reported record profits for 2010.
The firm said export growth and new products saw revenues rise 15%, pushing its operating profit up 9% to £206m.
The company, owned by entrepreneur James Dyson, manufactures its products in Malaysia and sells 80% of them outside the UK.
Dyson rolled out its new bladeless fans in the year, and also saw strong growth of its Airblade hand dryers.
The company, which designs its products at Malmesbury in Wiltshire, said last August it planned to double its engineering workforce there to 700.
Vacuum cleaner sales in the US were particularly strong, according to the firm's statement.
The company designs its products at Malmesbury in Wiltshire and plans to double its engineering workforce there to 700.
"We haven't been afraid to take a risk - doubling our engineering team during a recession," said James Dyson.
"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."
Among the planned new products are digital motors and other "currently secret" technologies.