While memories of 2009 will evoke a shudder from many businesses, vacuum cleaner pioneers Dyson will revel in theirs, having announced today that profits more than doubled to £190m last year.
Turnover was up 23 per cent for James Dyson’s firm, while profits increased from £90m in 2008. The growth is attributed to new technology, increased market share and strong exports.
Dyson CEO Martin McCourt said: “We’re ten times bigger than we were in 2000. We‘re doubling our engineers so we can continue to grow and invent new machines like the Dyson Air Multiplier fan and technology like our digital motors.
“Our success is down to new ideas and the work of teams around the world. It demonstrates that Britain can compete in high-tech exports if it invests in long term research and development. People want technology that works well, even in a recession.”
Having made its name with its bagless vacuum cleaner technology in the 90’s, Dyson has more recetly turned its innovative hand towards ultra efficient hand dryers and now desk fans.
The bladeless Dyson Air Multiplier fan which uses an air ramp instead of blades to deliver a smooth flow of air without buffeting went on sale in the UK, US and Europe this month. In Australia it has already commanded a 64 per cent of the value of the desk fan market.
Dyson recently announced that it is doubling its engineering team at its Malmesbury, Wiltshire R&D facilities to 700. The company spent £42m on research and development in 2009 and only Rolls Royce filed for more patents.
The company employs 2,500 people worldwide, exports to 49 countries and is the market leader in Dyson in the UK, US, Canada, Australia, France, Belgium, Spain, Switzerland, Ireland and New Zealand.
Dyson CEO Martin McCourt and the new bladeless Dyson Air Multiplier fan.