Vacuum cleaner company Dyson posts record earnings on expansion in Asia

James Dyson, inventor and founder of Dyson. Photo / Supplied

Vacuum cleaner maker Dyson has posted record earnings on the back of expansion into Asia.

Dyson posted earnings of before interest, tax, depreciation and amortisation of £801 million ($1.53b) in the year to December, up almost a third from £631m the previous year.

The UK-based company said annual turnover was up 40 per cent to £3.5b. Dyson said it had produced its 100 millionth machine in 2017 and total manufacturing volume reached a record 80,000 machines a day.

Dyson's strong performance was largely on the back of increased sales in Asia, said Dyson founder and inventor James Dyson.

"Across Asia we see extraordinary enthusiasm for technology that works – Japan, China, and Korea are all large and fast growing markets for Dyson," he said.

Dyson opened nine demo stores last year, taking its global total to 19.

The company is among the market leaders in New Zealand for small domestic appliances, and is gearing up to open its first New Zealand office in Auckland in May, employing 12 people.

Dyson Australia and New Zealand managing director Glenn Andrew said the office would enable the company to expand its business here.

"Over the past three years, Dyson has almost doubled its marketing investment in New Zealand," Andrew said. "We expect to continue that level of commitment in future years with exciting innovations that will revolutionise categories."

The company opened a technology lab in China during the year focusing on research for new technologies.

Dyson will continue its £2.5b investment programme into future technologies such as solid state battery cells, vision systems, machine learning and AI. The company has been working on an electric vehicle over the past three years.

"Globally, we see people want high performing technology. Dyson remains focused on the long-term development of technologies like motors, batteries and robotics," James Dyson said.

Dyson employs 4,450 engineers and scientists globally.