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Record turnover of £1bn for Dyson

British technology and engineering firm Dyson have announced record profits of £306m and an annual turnover of over £1bn.

The company have also reported plans to launch Dyson vacuum cleaners in the Chinese market in November.

U.S and Japanese markets led the company’s growth figures, as Dyson retains the title of top seller of upright vacuum in America.

Turnover rises of 19% were reported for the year in 2011, and pre-tax profits were up by 29%, while the company escaped pressures from European markets.

Sir James Dyson, innovative engineer and inventor, rallied the government to waive tuition fees for science and engineering students to allow for future development, adding that Britain’s wealth relies on the country’s ability to export.

Dyson invested strongly in research and development with a lump sum of £59m, and announced plans to increase this by 20% year on year for the next five years.

This was posted in Bdaily's Members' News section by Miranda Dobson .