High fuel prices are set to cut profits in fiscal 2005 by £900,000, performance materials manufacturer Dyson Group PLC said. Assuming that energy prices remain stable, Dyson said profits for 2006 would be affected by about £1.8M. The company reviewed operations following the end of its fixed price energy contracts. Dyson warned at its AGM August/05 that energy costs would have a significant impact on the group. "However, we continue to take management action to mitigate this impact so far as possible, as we have done successfully in the past," the group said, adding that higher costs had affected both its thermal technologies & performance materials divisions in equal measure. Dyson is continuing its programme to optimise cash generation at its traditional thermal technology operations, which are exposed to more difficult trading in the steel & glass industries.
