Dyson sucks in slashed salary

Published on Friday 6 November 2009 21:19

VACUUM cleaner mogul Sir James Dyson had his salary slashed last year as profits slid at his technology firm, it was revealed yesterday.

The inventor's 457,000 pay packet for 2008 pales in comparison with his 12.5 million the previous year.

Dyson, a household name since launching his bagless vacuum, took the steep pay cut as pre-tax profits at his company fell 4 per cent to 85.3m in the 12 months to 31 December as the recession took its toll.

Turnover grew 2.8 per cent to 628m in the period, though research and development spending was 6 per cent lower at 49m. Dyson stressed that research was the company's "life blood" and would continue.

During the year the company launched a new vacuum that steers on a ball instead of wheels and said it became the UK's best-selling vacuum within a month.