British vacuum cleaner manufacturer Dyson has reported a 10 per cent increase in turnover to £1.38 billion (€1.88 billion) for 2014.

The company posted earnings before interest, tax, deductions and amortisation (Ebitda) of £367 million, an increase of 13 per cent on the previous year.

Dyson founder and chairman James Dyson said growth was driven by global demand and strong performance from new technologies including bladeless fans, purifiers and humidifiers.

“We spent an additional 40 per cent on research and development last year and now spend £3 million a week as we develop expertise in entirely new areas,” he added.

During 2014 Dyson announced a £1.5 billion investment in its global technology pipeline. The first phase is underway with the expansion of the company’s Malmesbury campus in the UK, and the completion of a £200 million investment in high technology manufacturing complex in Singapore.