‘Difficult’ year for Dyson sees profits down nearly 50%

Revenues down more than £500m after company cut more than a quarter of UK workforce

Profits at Dyson nearly halved during a “difficult” year in which the home appliances business, founded by the billionaire Sir James Dyson, cut more than a quarter of its UK workforce.

Dyson, which has been based in Singapore since 2019 in a move to “future proof” the company, said it had sold 20m products during the year, more than ever before.