The results show the underlying business of relatively low-tech household machines is still going strong as Dyson — an outspoken Brexit supporter who is worth about US$22 billion, according to the Bloomberg Billionaires Index — pivots the company’s operations from the U.K. to Asia.
James Dyson’s technology firm reported a 17% jump in profit in 2019, a year when the home appliance maker decided to move its headquarters to Singapore from the U.K. and abandoned efforts to develop an electric car.
Dyson Holdings Pte., best known for its vacuum cleaners and hand dryers, made a net income of 711 million pounds ($1.277 billion) last year, it said in filings in Singapore. That was after taking a 198 million-pound hit from discontinued operations, including its automobile project. Revenue rose 23% to hit 5.4 billion pounds.
