For the year ended 31 July 2024, the Bradford-based manufacturer and specialist 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 significant 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 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.

Commenting on the strong results, Lou said they were testament to the hard work and talent of everyone across the 170-strong business.

She said: “The ceaseless progression of Mansfield Pollard is the categorical definition of our company vision: ‘We strive to grow the company profitably, become the industry brand of choice and to be recognised as the best employer in the region’, and these positive results are another strong reflection of this.

“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.”

Lou added that ESG continues to be front and centre of the business: “We continue to look at a more purpose driven approach to our work, to secure future generation’s opportunities and to attract staff, clients and capital in the near term.

“We are proud to be a carbon negative business and recently delivered a series of supplier partnership days exploring how we can work together to bring products to market with full carbon evaluation. This ambition to offer products with a complete understanding of embedded carbon form part of our ongoing sustainability journey and one we believe will help set ourselves apart in our respective marketplaces.”

Ben Priestley, chief financial officer, said that despite some uncertainty resulting from the change of government and autumn Budget, Mansfield Pollard’s broadening of the business sectors it operates in alongside further diversification of its product line would negate any potential risks.

Ben said: “We fully expect the return on investment on our move to a single site with bespoke offices and operational abilities to be swift. In fact, the improved brand positioning is helping to bring in a new and larger sized customer pipeline since the move already.

“The Board consider investment and innovation to be key elements for success and therefore continual commitment to developmental projects and research and development expenditure will not change.

“With our current largest sectors expected to see the biggest percentage growth over the rest of the decade, future sustainable growth for the business will hinge on R&D investment and strategic entrances to new sectors and markets.

“We have seen a strong start to the current financial year and the Board is confident that the business will continue to follow the upward trajectory set out in our strategic plan.”