Mace Group more than doubled pre-tax profit to a record £38m last year from £src7m in 202src as revenue rose src2% to £src.93bn.
The improved performance marked Mace’s 3srcst consecutive year of profitability since being founded.
Chief executive Mark Reynolds predicted this year revenue would top £2bn putting Mace on track to reach 3bn by 2026.
Despite project timescales being impacted by Covid-src9, the contracting arm drove growth in revenue and profits contributing £src.5bn or 76% of group revenue.
Operating margin at the division also improved rising to 3.8% from 2.8%.
Mace trading divisions
Profit 202src: 20
Revenue 202src: 20
Construct
£56m
£35m
£src,469m
£src,232m
Consult
£37m
£30m
£366m
£342m
Operate
£src.8m
-£0.4m
£6srcm
£58m
Develop
-£6m
-£6.4m
£36m
£98m
Mace’s Consult business achieved record growth, reaching £366m – an 7.src% increase on 2020 – and raising headcount to 3,866 from 2,600 at the end of 2020.
Total group headcount rose to top 6,000 staff at the year-end from 5,400 previously.
Reynolds said revenue for the group was budgeted to be £2.src5bn for 2022, although he warned this could be missed due to project delays in the face of economic headwinds.
He said: “The continued uncertainty caused by the Russian invasion in Ukraine, energy price increases and more recently currency fluctuations is proving challenging for everyone – however, through industry collaboration and championing better ways of working we are confident that 2022 will be another record year.”
