At the Dyson Group AGM (LSE:DYS) to be held today at 12 noon, the Chairman will make the following statement on trading:

As previously outlined, the recent strategic review led by Chief Executive Patrick Lammers and the new Dyson management team has concluded that the Group's new focus will be on its core markets, namely Automotive Emissions, Industry and Energy, and on reorganising the Group to maximise returns from its excellent technologies. The Group is pleased to report that this reorganisation is progressing well. Additionally, the strategic review of the property portfolio undertaken by Jones Lang LaSalle has now reached some initial conclusions and a detailed plan is being prepared with a view to monetising some of the property value as market conditions improve.

For the first five months of 2008/9 to August 2008, sales from the Thermal Technologies division have increased by approximately 2% compared with the prior year, reflecting the market-driven focus on growth areas following the restructuring in previous years. Sales in the Performance Materials division have decreased by approximately 6% compared with the prior year due to lower automotive Ecoflex® sales. However, opportunities to widen this product range in the longer term are encouraging and, as a result of legislation on emissions, the market outlook for Saffil® fibre in automotive applications is set for high growth. The Distribution division has been affected by the downturn in the housing market with sales 18% lower than the prior year. Also, the Thermal Technologies and Performance Materials divisions continue to be affected by increased energy costs, some of which have been passed on to customers, with the remainder being been partially offset by cost reductions and production efficiencies which have supported the first half margins.