Dyson cleans up as family reaps £200m in returns

SIR JAMES DYSON has collected bumper returns from his electronics and engineering empire with expected dividends of nearly £200million.

Accounts filed this weekend by Weybourne Group, his holding company, revealed shareholders received £109million earlier this year, with a minimum £94million further to come.

The company is wholly owned by the billionaire entrepreneur and his family, and controls the famous vacuum cleaner brand. The total is more than double the payout in the previous year, when Weybourne paid dividends of £86million.

Sir James is Britain’s 12th richest person, with an estimated net worth of £9.5billion. He is a bigger landowner than the Queen, owning around 25,000 acres.

The 71-year-old is a vocal supporter of Brexit, arguing that the UK will benefit from setting its own trade policy. He has urged the Government to walk away from talks with Brussels, instead insisting “they’ll come to us”.

Weybourne’s turnover rose by £1billion to £3.5billion, driven by rapid expansion in Asia. Profit before tax rose from £473million to £680million. HM Revenue & Customs handed the Dyson parent £43million in tax breaks. Overseas governments awarded it a further £37million in tax incentives.

“People in Asia have an extraordinary enthusiasm for technology that works,” Sir James said earlier this year.

Dyson is now investing heavily in developing an electric car and has bought the former RAF Hullavington airfield in Wiltshire to use as a test track.