Dyson farming business records profit increase for 2021
Sir James Dyson’s farming business made a pre-tax profit of £2.8m for the year ending 31 December 2021, up from £2.2m the previous year.
According to Dyson Farming’s most recent accounts, the company achieved sales of £35.5m (£30.2m in 2020) while maintaining the same £569m of net assets.
The results follow a difficult 2020, where bad weather reduced income potential and added costs, with direct production costs rising by about 50%.
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The annual report for 2021 stated that while regenerative farming continued to be the principal business activity, sustainable energy generation also provided income and inputs for other areas in a circular farming system, such as glasshouse operations.
Other sources of diversification include the development of existing property assets and provision of advice to external customers.
As with most other farm businesses, the report listed the main operational risks and uncertainties as being exposure to global macroeconomic conditions through crop sale prices and the input costs of fertilisers, energy, CO2 and equipment, as well as the security of customers and the supply chain.
However, the company, which increased its farming staff from 87 in 2020 to 104 in 2021, also noted that specific risks included its reputation and reliance on key personnel.