Mace has published its annual accounts for FY2022 – reporting growth in its global consultancy business and a record-breaking safety performance.
- Group turnover: £1.93 billion (FY2021 £1.93 billon)
- Construction business turnover: £1.4 billion (FY2021: £1.5 billion)
- Consultancy business turnover: £500 million (+36% on FY2021)
- International activities revenue: £516 million (FY2021 £485 million)
- Profit before tax (PBT): £36.5 million* (FY2021 £38.3 million)
- Operating profit (before exceptional items): £45.4 million
- Cash (net of overdrafts): £130 million (FY2021 £127 million)
- Global headcount: 7,271 (FY2021: 6,562)**
*PBT was despite a £13 million exceptional impairment of a loan to a development JV.
** It said it will recruit 2,000 more people over the next three years.
FY2022 saw Mace’s thirty-second consecutive year of profitability.
The Group’s Business Strategy is targeting £3 billion of revenue by 2026, through four hubs: UK & Europe, the Americas, Middle East and Africa, and Asia Pacific.
Despite planning delays, materials inflation and energy costs, its construction business secured more than £2.1 billion of new projects.
Mace also delivered more than £214 million of construction work through its construction management projects.
Its consultancy business won places on several global programmes, worth more than £100 billion.
As part of its 2026 Business Strategy, Mace also reduced carbon emissions by 7% (a cumulative reduction of 57% since FY2019); contributed £682.4 million in social value (+27% on FY2021); and, invested 3% (£57 million) of revenue in R&D.
The Group also had the safest year in its history, reporting a 0.03 accident frequency rate, and 94% of construction projects did not have a reportable RIDDOR incident.
“2022 was a successful year across the Group; particularly the growth of our global consultancy business – which expanded by more than a third – and our record-breaking safety performance,” said Mark Reynolds, chairman and Group chief executive. “We are proud of everything we have achieved, and I would like to thank all my colleagues, and our partners, clients and suppliers for their support during a challenging year for our industry.
“Mace continues to push our industry forward; driving innovation, sustainable delivery, and purpose-led growth across the world, working with our clients to transform how we deliver. It’s a team I’m honoured to be a part of.”
To read the full report, click here.
Enjoyed this? Try Sisk profit and UK construction turnover down
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.