In the year to 31st December 2021, Mace Ltd posted revenue up 12% to £1.93bn (2020: £1.73bn) with pre-tax profit up 86% to £53.8m (2020 restated £28.9m).
Parent company Mace Finance Ltd reported a 2021 pre-tax profit of £38.3m (2020 restated: £16.7m) on the same revenue as that generated by Mace Ltd.
Since it was founded in 1990, Mace has never yet failed to make a profit.
Mace has three broad revenue streams: UK construction, consultancy and international work. Construction brought in £1.5bn of revenue (2020: £1.2bn), increasing its proportion of total group revenue from 71% to 76%. Consultancy revenue increased by 7% to £366m (2020: £342m); international revenue was broadly flat at £485m (2020: £483m).
Net cash position at the end of 2021 was £122m (2020: £22m).
Chairman and chief executive Mark Reynold said: “2021 was another challenging year for the construction industry, with the on-going disruption of Covid-19. However, our 2026 business strategy proved exceptional in supporting growth across our sectors, services and geographies. I would like to thank our clients and supply chain for their support and acknowledge the huge contribution of our fantastic colleagues to Mace’s record performance in 2021.
“Being a purpose-led business has enabled us to push ourselves harder to do the right thing and it’s transforming how we work. Our people are empowered to challenge each other every day to find a better way and as a result we’re developing innovative solutions, pushing the boundaries of sustainable delivery and creating an environment where everyone can thrive.
“We’ve built on that success in 2022, adapting our approach and strategy to reflect fast-changing global market conditions. 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.”
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