Deanestor posts record order intake and £3m turnover growth

Deanestor posts record order intake and £3m turnover growth

East End Community Campus (Image credit: Holmes Miller)

Furniture and fitout specialist Deanestor has reported a £3 million increase in turnover to £22.4m for the year ending December 2023, with a record order intake of over £30m.

Forward orders have increased by more than £3m to over £30m compared to the same period last year for projects to be delivered through to the end of 2025.

Turnover rose by £3m in 2023, up from £19.2m in the previous year and again with a healthy operating profit. Net assets in the same period increased by £1.5m.

Projects have been delivered and awarded across diverse market sectors – healthcare, education, student living and build-to-rent – for the manufacture and installation of fitted furniture, bespoke kitchens and specialist joinery, and with a high level of repeat business from tier one contractors and major residential property developers.

Deanestor continues to perform well in Scotland, particularly in the education sector. Current projects include its 13th furniture and fit-out contract for Robertson Construction – a £3.8m contract for the new East End Community Campus in Dundee.

Deanestor posts record order intake and £3m turnover growth

Ramsay McDonald

Ramsay McDonald, managing director of Deanestor in Scotland, said: “This latest set of figures demonstrates strong and sustainable growth for the business across multiple sectors. We have an exceptionally healthy project pipeline and are anticipating an increase in turnover to £24m by the end of 2024.

“Our financial performance is testament to the hard work of our teams in Scotland and across the UK – from design and estimating to manufacturing and work on site – who help our clients achieve the balance between first class FF&E services, finishes of the highest quality and project delivery to the required budget and programme.

“Quality and longevity are vitally important for fitting out retained assets – from demanding secondary school environments to co-living apartments that require strong tenant appeal, long-term.”

Nearing completion is a £5m project with BAM to fit out the two new high schools on the Dunfermline Learning Campus.

Deanestor posts record order intake and £3m turnover growth

In the build-to-rent sector, Deanestor has recently handed over a contract worth around £3m for Robertson Construction to manufacture and install 433 contemporary, bespoke kitchens and 599 wardrobe sets for a new £80m neighbourhood at Holland Park in Glasgow developed by Moda.

The firm also recently secured hospital fitout contracts totalling £4m, the largest of which is a project worth more than £1m for Integrated Health Projects (IHP) – a joint venture between VINCI and Sir Robert McAlpine, to fit out two 54-bed adult mental health facilities at Kingsway Hospital in Derby and in the grounds of Chesterfield Royal Hospital.

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