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Dyson Moves Head Office Closer To Australia

Dyson has announced that it is moving its headquarters closer to Australia in an effort to grow market share.

Currently located in the UK the Company is relocating their HQ to Singapore which is already the regional office for Australia, they claim that it has nothing to do with Brexit.

The move by the appliance maker will see chief financial officer Jorn Jensen and chief technical officer Martin Bowen moved to Singapore.

Other work at the Companies UK Malmesbury office will not be affected and “no jobs will be lost” the Company said overnight.

Chief executive Jim Rowan also said that the move had nothing to do tax but added: “It’s to make us future-proof for where we see the biggest opportunities.”

He added: “We have seen an acceleration of opportunities to grow the company from a revenue perspective in Asia. We have always had a revenue stream there and will be putting up our best efforts as well as keeping an eye on investments.

“We would describe ourselves as a global technology company and in fact we have been a global company for some time. Most successful companies these days are global.”

Back in October announced plans to build its new electric car in a new custom-built factory in Singapore.

Mr Rowan said it would be spending £200m in new buildings and testing facilities in Hullavington, and £44m in refreshing office space and adding new laboratories in Malmesbury as well as investing £31m for the young undergraduates at its university on the same site.

“Malmesbury has been the epicentre for us and we will continue to invest all over the UK,” he added.

“The tax difference is negligible for us,” added Mr Rowan, who confirmed that the company would be registered in Singapore, rather than in the UK.

“We are taxed all over the world and we will continue to pay tax in the UK.”

Dyson has made it clear its centre of gravity now lies in Asia, where it sees the biggest opportunities for growth.

Dyson also revealed its full-year results for 2018, announcing that its profits had topped £1bn for the first time, up by 33%, while turnover jumped 28% to £4.4bn.