Dyson has reported a record £367million profit for 2014, which is up 13% on the previous year.
The figure was only curtailed by being even higher by a strong pound, according to Dyson, which now sells 90% of its products outside the UK.
Much of the company’s growth in 2014 has been in Asia where sales for bladeless fans, purifiers and humidifiers have risen by 20%.
Meanwhile turnover has hit £1.4bn and there has been a 41% increase in reinvestment through research and development rising from £80-£113million year-on-year.
A car is not being ruled out
Speaking to The Telegraph, Dyson chief executive Max Conze says that the research will help the company disrupt new markets and when asked if this will include cars he said: “We are ruling nothing out.”
Dyson would not elaborate on Conze’s comments but it is clear that the company is hoping to break into new categories.
40% increase on R&D spend
Founder James Dyson says: “We spent an additional 40% on research and development last year and now spend £3m a week as we develop expertise in entirely new areas. We are working on the core technology which will deliver the next leap in technology.”
Dyson’s Malmesbury, Wiltshire campus was expanded last year and a further £200million has been invested in the company’s manufacturing complex in Singapore.
The company has also made its first external investments acquiring Michigan-based solid state battery manufacturer Sakti3 and Jake Dyson Lighting, which is run by James Dyson’s son.