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Deanestor returns to profit

5 Sep 23 Fit-out and furniture specialist Deanestor saw 35% rise in business last year as it bounced back from the covid pandemic.

Managing director William Tonkinson
Managing director William Tonkinson

Deanestor’s accounts for the year ending 31st December 2022 show turnover rising from £14.3m to £19.2m.

The operating loss of £390,000 suffered in 2021 became a profit of £750,000 in 2022. At a pre-tax level, 2021’s £37,000 loss became a £414,000 pre-tax profit in 2022.

Sales of £17.5m have already been secured so far in 2023 with a strong order pipeline that extends into 2025, the company said.

Managing director William Tonkinson said: “I am pleased to report that we had a solid performance last year and are on target with our growth forecast for 2023. We operate in diverse sectors which all remain buoyant despite the economic challenges, and we have maintained high levels of repeat business with some of the UK’s leading contractors and residential developers. This is testament to the hard work and commitment of our teams in Mansfield, Scotland and on site across the country.

“We have continued to grow our business in Scotland, particularly in the school building sector and following our acquisition of the Havelock brands in 2019. This has contributed to a very significant increase in sales in the past year and we have already secured over £6m of orders for Scottish projects so far this year.

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“We now have a strong foundation on which to grow and are continuing to invest in our people, in new cutting edge manufacturing technology, and in our production facilities and capacity.”

Deanestor has recently expanded its storage facilities to 200,000 sqft with the addition of two new units in Mansfield. This warehouse capacity allows customers to benefit from the manufacture of furniture products and the procurement of equipment at an earlier stage, it says, helping to remove the risk of price inflation and materials cost increases.

An additional CNC cutting machine will be installed at its manufacturing centre in Mansfield this autumn to increase capabilities.

New projects include the manufacture and installation of fitted bedroom furniture and kitchens for seven three-storey buildings that are under construction by Equans for the University of Birmingham, and a contract worth more than £3m for Robertson Group to fit out a new secondary school campus in Dundee.

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