Dyson reaches record profits in 2017, hitting £801mn

The British home appliance manufacturer, Dyson, has released its 2017 Financial results, revealing that it’s profits hit a record high.

The company’s annual turnover grew by 40%, reaching £3.5bn (US$4.82bn), whilst its profits grew 27%, hitting £801mn ($1.1bn).

It is anticipated that the successful year was due to the company’s expansion across Asia, accompanied by its new ventures in technology.

The firm announced an investment of £330mn ($454.23mn) into its operations in Singapore, to enhance R&D and manufacturing capabilities, as well as opening a Technology Lab in China.

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In Asia, and across the world, Dyson is currently aiming to increase awareness of air pollution caused by combustion engines.

73% of Dyson’s growth came from Asia, whilst Europe grew at 21% and the America’s grew at 19%.

In 2017, the firm produced its 100 millionth machine with a manufacturing volume boom hitting 80,000 machines a day.

Dyson’s direct retail double on a year-on-year basis, following the launch of 9 new Dyson Demo Stores.

In the past five years, the company has increased its UK workforce by 2.5 times as much, now employing 4,600.

The firm is looking to employ an additional 300 engineers to work on its electric vehicle project.

Dyson is also to invest £31mn ($42.67mn) to aid a shortage of engineers in the UK.