17 January 2019
Deanestor Announces Record Orders and Strong Financial Performance
Deanestor, one of the UK's leading contract furniture and fit-out specialists, has announced a record order book and strong financial performance this year.
The business has generated £20m of orders in 2018 from contractors and developers - a record order intake in the history of the company. This is a 40 per cent increase on the same period last year and has secured projects for the business for 2019 through to 2020.
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 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.
Commenting on the strong performance, 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, Scotland worth £1.5 million. Deanestor is also working on a major laboratory project worth around £6m for a leading pharmaceutical company.
Deanestor provides high quality contract furniture solutions to construction clients and contractors for healthcare, education, student accommodation, build-to-rent and laboratory projects - both new build and refurbishment. It offers bespoke design services to meet specific project requirements and is responsible for installation to provide a seamless approach for its customers and a single point of contact.
