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Dyson Posts Record Sales

Dyson has reported a 45% increase in sales to £2.5 billion ($4.1 billion) in 2016, with a new range of cordless vacuum cleaners finding significant popularity in Asian markets.

The UK-based maker of vacuum cleaners, fans and hand dryers also experienced profit growth of 41% to £631 million ($1.04 billion) despite the potential effects of Brexit.

Sir James Dyson, the founder of Dyson and a Brexit supporter, said in an interview with the BBC that sales in Europe were just one part of its success.

“Europe’s only 15% of the global market and the really fast-expanding markets are in the Far East… I’m enormously optimistic because looking outwards to the rest of the world is very, very important because that’s the fast-growing bit,” Dyson told the BBC.

Sales in Indonesia grew by 266% last year, with sales also rising by 244% in China and 200% in the Philippines. The company also said its new V8 vacuums were the fastest selling since it was founded in 1991.

According to The Guardian, Dyson said that the 5-10% World Trade Organisation tariffs that UK companies could pay for trading with Europe in the future would be a “tiny penalty”, citing his company’s success despite paying WTO tariffs for manufacturing in Singapore.

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