Mace sees annual growth of 14% in 2016
Today Mace published its 2016 annual report showing a 14% increase in turnover to £1.97bn – well ahead of its 2020 growth target – with international turnover rocketing to £517m.
Over the last four years Mace has seen exceptional growth, created nearly 2,000 new jobs and doubled its turnover. 2016 marks its 26th year of consecutive revenue growth and profitability, and saw a substantial expansion of its international turnover by 148% to £517m. This makes Mace a major global exporter of UK consultancy and construction services.
Strong growth in 2016 also came from Mace’s development business, which held a gross development value of more than £1.6bn worth of real estate investments across the UK – a 14% increase since 2015.
The Group posted a pre-tax profit of £10.7m, which was below expectations due to a small number of challenging construction projects.
Mace’s strategy of securing work on major programmes paid dividends in 2016, with the company now working in most major infrastructure sectors in the UK with a growing international portfolio of work. We continued to work on some of the largest international projects including Dubai Expo 2020 in the UAE, Jeddah Tower in Saudi Arabia, and Landmark 81 in Vietnam.
Mace completed a number of landmark construction projects in the UK in 2016, including the Tate Modern Extension, the pioneering new Sky Central commercial development at the heart of Sky’s media campus in West London and New Burlington Place for The Crown Estate.
Mace’s bidding pipeline and opportunities remain strong with a £4.5bn pipeline of work at the end of 2016.
Over 2016 the Mace Foundation donated a total of £380,000 to good causes and over 18,440 hours of volunteering was undertaken by Mace staff – and the company provided £588,000 worth of pro bono work for charities and not-for-profits.
Mark Reynolds, Mace’s Chief Executive, said:
“2016 saw Mace maintain its impressive 26 year record of revenue growth and profitability. We are becoming a major international exporter of UK construction and consultancy services, making real contribution to export revenues.
"Although two challenging projects – out of the more than 1,000 we worked on last year – impacted on our profits for the year, the business continues to grow sustainably and successfully deliver some of the world’s most complex and iconic projects and programmes for our clients. We have an enviable pipeline of work to deliver which continues to provide major career development opportunities for our people.”
To read the Mace's full 2016 annual report, please click here.