Mace said it had delivered “stable revenues and consistent underlying profitability” in its annual accounts for 2022.
The group recorded turnover of £1.936bn (2021: £1.933bn) for the reporting period and its profit before tax was £36.5m (2021: £38.3m), despite the £13m exceptional impairment of a loan to a development joint venture.
Revenue in Mace’s consultancy business increased 36% to £500m and its construction business racked up annual revenue of £1.4bn, which was in line with the previous 12 months.
In 2022, Mace reduced carbon emissions by 7%, contributed £682.4m of value to society – a 27% increase on 2021 – and invested 3% (£57m) of its revenue into R&D.
The group had the safest year in its history, reporting a 0.03 accident frequency rate across the business, beating its 2026 target of 0.04.
Mark Reynolds, Mace’s chairman and group chief executive, said: “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. 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.
“Now two years into our 2026 business strategy, we are confident we have the pipeline and growth trajectory to meet the ambitious targets we set out to achieve in 2021, and we will be recruiting 2,000 new colleagues over the next three years and expect to grow the group by a further billion pounds in revenue.
“Across the group, we won significant new projects, programmes and contracts, including significant expansion into new sectors, such as life sciences. We also secured long-term revenue and margin through appointments on some of the world’s largest and most complex infrastructure and regeneration programmes.
“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.”
