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Dysons PLC
Dyson PLC - News

Interim Management Statement

Dyson Group plc (LSE : DYS), the materials technology company, is pleased to announce its interim management statement from 1 April to 21 August 2008. At the time of the preliminary results in June 2008, the Group's new management team presented the outcome of the strategic review. The key focus of this is to concentrate on the Group's core technologies, namely Automotive Emissions, Industry and Energy. In addition, the Group will become more market-focused in order to benefit from its excellent technological capacities.

The re-structuring of Dyson Group is ongoing and has already shown significant progress at various levels within the organisation. In addition the strategic review of our property portfolio undertaken by Jones Lang LaSalle is almost complete, with a view to unlocking some of our property value in due course.

Sales from the Thermal Technologies division have increased by approximately 12% compared with the prior year, reflecting the market-driven focus on growth areas after the restructuring in previous years. As indicated in June, sales in the Performance Materials division have decreased by approximately 6% compared with the prior year due to lower automotive Ecoflex sales, however the longer term outlook in this area continues to be encouraging. The Distribution division has been affected by the downturn in the housing market with sales 14% lower than the prior year.

The Dytech business is also progressing well, following the successful setting up of a distributorship in the Middle East where there is a strong market for our products. Talks are ongoing with potential customers regarding the PV Crucibles and further updates will be reported at the end of this year

Both the Thermal Technologies and Performance Materials divisions have been affected by increased energy costs as anticipated, which have been mitigated to an extent by price increases and cost reduction, resulting in overall performance for the Group in terms of profit before tax and debt levels for the year to date being satisfactory.

Patrick Lammers, CEO of Dyson, said: "The re-structuring of the Group following our strategic review announced in June is progressing well with significant changes already being successfully implemented."