Dyson Farming increases profit to £5.2m in 2023
© AP Photo/Rob Bennett Dyson Farming made a pre-tax profit of £5.2m in the year to 31 December 2023, up by £527,000 on the previous year.
Sir James Dyson’s farming business also increased its turnover by 16% to total £40.6m, according to the company’s accounts, with arable farming continuing to be the principal business activity.
It classes itself as the UK’s largest farming business, covering 14,600ha of farmland across Lincolnshire, Oxfordshire, West Berkshire, Somerset and Gloucestershire.
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The enterprise typically produces 40,000t of wheat, 9,000t of spring barley, 12,000t of potatoes, 29,000t of sugar beet and 1,250t of strawberries, alongside 2,000 sheep and 800 cattle.
Managing director Daniel Cross said yields from regenerative farming had been good during 2023.
“In addition, the business has benefited from forward selling crops to mitigate the downside risk from falling global crop commodity prices,” he said.
Diversified income was generated from renewable energy, anaerobic digestion, and residential and commercial lets.
Sales of produce accounted for £26.45m of total turnover, with £10.87m coming from energy supply and £3.32m from rental land and investment property.
Dyson Farming employed 217 members of staff across all sectors, with 94 employees linked specifically to the farming enterprise.
The accounts also showed that Basic Payment Scheme entitlements for Dyson Farming totalled £2.6m.
Tech deal to bolster efficiency
European tech company xFarm Technologies has agreed to a three-year project with Dyson Farming to improve the efficiency of operations on farm.
The project involves the collecting and processing of data across the farmland to connect with digital farm machinery.
Ben Abell, head of agronomy at Dyson Farming said: “By implementing xFarm, we will be able to make more informed decisions and provide full traceability for our consumers.
“This will ensure that every grain, root or berry of the 100,000t of food we produce each year can be traced back to the place it was grown, bringing transparency to the delicious food we eat, and the ability to share the data and evidence of the nature and environmental improvements incorporated into its production.”
Matteo Vanotti, chief executive of xFarm Technologies, added: “Dyson Farming is incredibly advanced in the use of cutting-edge technology and focused on innovation, efficiency and sustainability, so we are especially proud to be their partner in this tailor-made project to make their operations management even more efficient.”