Manufacturer breaks through £20m revenue barrier
Mansfield-based Deanestor, the contract furniture firm, has announced a record order book and strong financial performance this year.
The business says it has generated £20m of orders in 2018 from contractors and developers – a record order intake in the history of the company, and a 40% increase on the same period last year.
Turnover has grown from £2.5m in 2002 when the company was acquired by its current owners to in excess of £16m this year. Its average project size has increased to over £1m.
Deanestor says it has seen a significant rise in orders and enquiries from developers and contractors for student accommodation schemes and in the build-to-rent sector which is performing strongly in urban centres across the UK.
As part of its expansion and to meet the increased demand for its contract furniture solutions, Deanestor has recently completed a £1m investment programme at its factory in Mansfield. This has included installation of a second production line for cabinet manufacture to double capacity; investment in the latest computer-controlled cutting equipment, and a new dedicated metal powder coating facility for specialist laboratory furniture.
William Tonkinson, managing director of Deanestor, said: “This business has a great history which spans more than 70 years. We are the longest established furniture and fit-out provider to the NHS. We have built on this success and our reputation for robust, bespoke and high-quality furniture solutions with significant expansion in our existing markets which include major new-build schools, hospitals and student accommodation. We have also diversified into new sectors in the past year such as laboratories for the pharmaceutical sector and kitchens for private rental schemes.”
Recent projects include a £2m contract to supply and install furniture for a student accommodation scheme in Cardiff, and the furniture and fitting out of a new secondary school for 1100 students in Perth, Central Scotland worth £1.5m. Deanestor is also working on a major laboratory project worth around £6m for a leading pharmaceutical company.
