Prominent Brexiter and landowner James Dyson has turned his first farming profit, generating a pre-tax profit of £747,000 in 2017.
Dyson's Beeswax Dyson Farming generated an 11 per cent increase in turnover to £15.7m last year, according to Financial Times.
The business comprises 35,000 acres of land throughout Lincolnshire, Oxfordshire and Gloucestershire, with the main activity farming and energy.
Financial support from EU schemes totalled £2.8m, up from £2.4m the previous year, because of land purchases.
The company said: “The subsidy receipt is constant on a per hectare basis from year to year. Our move into profit is a result of the investments that we have been making in our soil health, technology and infrastructure.”
“Beeswax Dyson is a commercial farming business, and receives the subsidies that any similar business would. These subsidies, along with other voluntary action, have ensured very high levels of environmental stewardship and investment.”
Dyson has invested £75 million into his business over the past five years, mainly in technology, training, soil improvement and environmental stewardship.
Since the EU referendum, Dyson has stated that Britain should leave the EU Single Market and that this would "liberate" the economy and allow Britain to strike its own trade deals around the world
However, the prominent Brexiter has been critical of the Conservative Government's direction. Last year, Dyson criticised Defra Secretary Michael Gove's 'Green Brexit' approach to the industry after the UK leaves the EU, saying small farmers may be at a disadvantage to their European counterparts under the plans.
