Manufacturer’s five-year growth plan on track following record performance

Air management expert, Mansfield Pollard, says it is on course to meet its five-year growth plan after posting increased turnover and profitability in its latest financial results.
For the year ended 31 July 2024, the Bradford-based manufacturer and specialist provider of industrial air handling units, acoustic control products and data centre cooling solutions saw turnover rise in line with expectations by 20% year-on-year to £24m.
Underlying net profit increased by the same margin to £2.02m.
Based on current forecasts, Mansfield Pollard expects revenue performance over the next two financial years to continue positively, boosted by a strong pipeline of new and existing customer opportunities.
The business adds it is on track to meet its £50m turnover target by the end of 2026.
The increased turnover comes as the business made significant strategic investments, including more than doubling the available manufacturing space to a total of 321,000 sq ft with a move to a single site, and the purchase of industry leading machinery which has improved production times.
Alongside the new manufacturing facility, the 170-strong business has invested in a 10,000 sq ft office space which also opened during the period, enabling senior leadership functions to come together for the first time.
Chief executive officer, Lou Ellis-Frankland, said: “We are proud of our strong Yorkshire heritage and are looking forward optimistically as we continue to lead the field as an innovative British manufacturer.
“We have a fantastic and loyal team and myself and the Board are extremely passionate about making sure Mansfield Pollard is not only a great place to work but that our people are at the heart of everything we do.
“This means investing not only in our spaces but in our culture and ensuring we are offering our people industry leading physical and mental health benefits.
“This includes encouraging all team members to develop their own wellbeing action plans, so they feel supported in managing their health and welfare.”
Ben Priestley, chief financial officer, said despite some uncertainty resulting from the change of government and autumn Budget, Mansfield Pollard’s broadening of the business sectors it operates in alongside further diversification of its product line would negate any potential risks.
He said: “We fully expect the return on investment on our move to a single site with bespoke offices and operational abilities to be swift.
“In fact, the improved brand positioning is helping to bring in a new and larger sized customer pipeline since the move already.
“The Board consider investment and innovation to be key elements for success and therefore continual commitment to developmental projects and research and development expenditure will not change.
“With our current largest sectors expected to see the biggest percentage growth over the rest of the decade, future sustainable growth for the business will hinge on R&D investment and strategic entrances to new sectors and markets.
“We have seen a strong start to the current financial year and the Board is confident the business will continue to follow the upward trajectory set out in our strategic plan.”