18 December 2024
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Air management specialist Mansfield Pollard says it is on track to meet its five-year growth plan after posting increased turnover and profitability in its latest financial results.
For the year ended 31 July, the Bradford-based manufacturer and 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 also 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, with a number of new data centre and healthcare projects continuing to be rolled out.
The business is on track to meet its £50m turnover target by the end of 2026, as set out in its five-year business plan.
The increased turnover comes as the business made 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 business has also invested in a state-of-the-art 10,000 sq ft bespoke office space which also opened during the period, enabling senior leadership functions to come together for the first time. The new space also includes the latest in employee wellbeing innovations for use by employees, including nap rooms, collaboration spaces and a free-to-use gym.
The investments are part of Chief Executive Officer Lou Ellis-Frankland's commitment to delivering a programme of activity focused on transforming workplace culture to create an environment which supports everyone and positively contributes to financial performance. This and other investments were recognised recently when Mansfield Pollard was featured in the coveted ‘Sunday Times Top 100 Places to Work’ list.
Ellis-Frankland said: “For more than 150 years Mansfield Pollard has transformed thousands of working environments across the air management space, controlling temperature, removing pollutants and limiting noise across all working environments. 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.”
