Consultancy and construction firm Mace has published its annual report for 2009, showing an 18% increase in turnover to £726M and 30% increase in profit to £19.3M.
The company has a cash balance of £106M with no debt, which Mace said leaves it “strongly positioned to take advantage of opportunities”.
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.
“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.”
David Vaughan, Mace
Mace chairman and chief executive officer Stephen Pycroft said the firm aims to become a globally recognised consultancy and construction company. “Our long term growth strategy continues,” he said.
“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.”
Group finance director David Vaughan commented: “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.
Platform for growth
Mace’s strong platform for growth in 2009 was not exclusive to the overseas market.
New business wins in the UK for the firm included a number of high profile projects in central London including the Café Royal redevelopment on Regent Street to the transformation of Tate Modern on the South Bank. Mace was also appointed to deliver The Shard at London Bridge.
In line with its 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.