Mace continues to grow into new markets with 18% increase in turnover for 2009
Media
02/08/2010
Press Release:
Mace delivered a robust performance in 2009 despite a challenging global economy. The company's Annual Report and Accounts 2009 show an 18% increase in turnover to £726m and 30% increase in profit to £19.3m.
The company's cash balances remain very strong at £106m, with no debt, leaving Mace strongly positioned to take advantage of opportunities as they arise. Analysis of income at the end of 2009 reveals 63% of turnover came from UK construction, 19% from UK consultancy and 18% from overseas consultancy and construction.
Chairman and CEO, Stephen Pycroft, commented: "Our vision is to be a globally recognised consultancy and construction company that delivers unparalleled service and truly makes a difference for our clients. Our long-term growth strategy continues and by working in close collaboration with our clients and partners, we remain dedicated to delivering a quality service across all sectors worldwide. The company performed robustly in 2009 against a backdrop of challenging trading conditions. In 2010 the quality of the people we employ, our supportive clients and our growing financial strength and capability in our sectors give the board confidence that we will continue to grow and raise the profile of the business."
Group Finance Director, David Vaughan, commented: "While we expect our future markets to remain challenging in 2010, we are seeing some signs of recovery in certain markets. We entered 2010 with 76% of our order book secured which gives us confidence of achieving our target of becoming a £1bn company by 2012."
Last month Mace featured in The Sunday Times Top Track 100 biggest private companies for the first time, entering at No. 70. Just 14% of the companies included operate in the property and construction sectors. Compiled by leading research company Fast Track, in conjunction with The Sunday Times, the top track league tables rank private companies according to annual sales figures. Having regularly featured in the Top Track 250, which ranks mid-market companies, Mace has now grown sufficiently to be included in the next tier up.
Project completion successes in 2009 included award-winning projects such as Ropemaker for British Land, Elizabeth II Court for Hampshire County Council, Ashmolean Museum for Oxford University and St Mary Magdalene Academy. In 2009, the ten-year relationship between More London Developments and Mace culminated with the completion of a new headquarters building for Price Waterhouse Coopers.
The Chairman and CEO statement in the Report and Accounts 2009 confirms the ongoing investment in the business to create a strong platform for future growth. As a result, Mace's international presence grew from 36 to 49 countries in 2009. In Europe Mace expanded operations in Azerbaijan, Romania, Turkey and the Ukraine, and in Africa won projects in Angola, Libya and Nigeria. In the Middle East, Mace built on its experience in Abu Dhabi and Dubai by winning work in Bahrain and Qatar, and in Asia, Mace continued to extend its presence across the region, winning its first project in Vietnam. Mace also entered the Americas for the first time this year as Macro, Mace's facilities management business, taking the brand to Canada, the Caribbean and USA.
The creation of a strong platform for growth in 2009 was not exclusive to the overseas market. New business wins in the UK included a number of high-profile projects in central London, from the Café Royal redevelopment on Regent Street to the transformation of Tate Modern on the South Bank. Another example of Mace's strengthening profile within the construction industry, and its ability to deliver large and highly complex projects, was the appointment to deliver The Shard at London Bridge.
Staying true to the strategy, Mace continued to accelerate its growth in emerging sectors, particularly the public sector and infrastructure markets. In 2009, the business invested in infrastructure across aviation, energy, highways, rail and utilities, with completed projects for Nokia Siemens Networks and Metronet, new commissions for clients EDF Energy, NaREC and BAA, and continuing work with CrossRail, Network Rail and the Highways Agency among others.
Media contacts:
Catherine Button, Head of Marketing & Communications, Mace - catherine.button@macegroup.com / +44 (0)7766 305 178
Matthew Neylan, Corporate Account Director, London Communications Agency - mn@londoncommunications.com / +44 (0)20 7612 8488
About Mace: Mace is an international consultancy and construction company with a £726m turnover in 2009, employing over 2,800 people and operating across 49 countries. The company's core business is programme/project management, construction delivery, quantity surveying and facilities management but is truly multi-disciplinary with services spanning the entire property life cycle. For more information visit: www.macegroup.com.
