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Dyson says profit and debt levels 'satisfactory'

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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - Material technology firm Dyson said overall pre-tax profit and debt levels for the year-to-date are satisfactory although higher energy costs and lower sales have hit its Thermal Technologies and Performance Materials divisions.

However these pressures have "been mitigated to an extent by price increases and cost reduction," the group said in a company statement.

Sales from the Thermal Technologies division have risen about 12% since the start of April compared with the year before.

Performance Materials sales have dropped around 6% due to lower automotive Ecoflex sales, 'however the longer-term outlook in this area continues to be encouraging', Dyson explained.

Dyson added that the Distribution division has been hit by the downturn in the housing market with sales since April 14% lower than the year before.

On a positive note, CEO Patrick Lammers said, "The restructuring of the group following our strategic review announced in June is progressing well with significant changes already being successfully implemented."

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