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Dyson bucks the trend with annual profit up 29% Friday, 7th September 2012
Photo credit: Dyson Group plc
Well known for his iconic British vacuum design, Sir James Dyson’s firm saw sales reach a record £1 billion after last year’s 29.5 per cent growth in profits.
Despite a weak consumer environment in the group’s key US and UK markets, Dyson said pre-tax profits at the business rose to £306.3 million last year, with sales passing the £1 billion mark.
Speaking to the Daily Mail, the inventor pledged to boost research and development into new products by 20 per cent a year for the next five years.
‘Research into new products and evolving existing models is at the heart of what we do.’ Dyson said, adding: ‘People often talk about emerging markets, but mature markets such as the US and Japan have been good for us. France, Germany and Switzerland have also been strong.
‘Brazil, China and India have not been that big for us, partly because they do not have many carpets and the rich have servants. But the growing middle class in these markets should begin to change that.’
Dyson went on to confirm that his firm would begin to sell products in China by November.
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Posted in Franchise & Expansion, Home & DIY News, Retail Industry Tagged james dyson, dyson, firm, vacuum, cleaner, british, designer, inventor
