Furniture and fit-out specialist receives record orders
Mansfield-based Deanestor received £24m worth of orders in the last six months and is now projected to post its highest ever turnover, the furniture manufacturer and fit-out specialist has revealed.
The firm says it expects to notch up £22m in 2023 alone – 35% more than last year.
Since the start of 2022, production volumes have continued to rise steadily at Deanestor, with turnover and profits returning to pre-pandemic levels.
Recent orders include a £2.3m contract with Midgard to manufacture and install kitchens for 370 apartments at a £110m development in Birmingham and a £1.6m kitchen and bedroom fitout project in Nottingham for Crown Student Living.
William Tonkinson, managing director of Deanestor, said: “Towards the end of 2022 and at the start of this year, we have seen our highest ever order intake. Confidence has definitely returned. Build-to-rent is extremely buoyant, and the student living and education sectors remain strong. We are also seeing an increase in the size of our projects for residential schemes as well as a trend for taller buildings to deliver more homes for rent.”
“Enquiries remain at healthy levels, and we now have a record quote book which is another very positive economic indicator”, he added.
“The acute challenges in labour and materials costs after the pandemic have now stabilised and with such a strong order pipeline, we expect our growth to continue for the next 24 months and beyond. We are creating around 12 new jobs this year to support our growth.”
Deanestor was established in 1948 and has manufacturing and distribution facilities in Mansfield spanning 220,000 sq ft across five sites. It employs around 150 people.