NuGen Properties

Deanestor returns to profit

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.

“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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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.