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Fri September 24 2021

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Mace turnover grows 18% to £726m

3 Aug 10 Mace has reported an 18% increase in turnover to £726m and 30% increase in profit to £19.3m for the 2009 financial year.

Mace has reported an 18% increase in turnover to £726m and 30% increase in profit to £19.3m for the 2009 financial year.

It puts the construction project management specialist well on the way to achieving its goal of a £1bn turnover by 2012.

Mace generated 63% of turnover from UK construction, 19% from UK consultancy, and 18% from overseas consultancy and construction.

It has no debt, and strong cash balances of £106m.

Chairman and CEO Stephen Pycroft said: "The company performed robustly in 2009 against a backdrop of challenging trading conditions. In 2010, 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."

Finance director David Vaughan said: “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.

"While we expect our future markets to remain challenging in 2010, we are seeing some signs of recovery in certain markets.

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Mace has accelerated its growth in what it calls 'emerging sectors', particularly aviation, energy, highways, rail and utilities. It has received new commissions for clients EDF Energy and BAA, and is continuing to work for Crossrail, Network Rail and the Highways Agency

New business wins in the UK have included a number of high-profile projects in central London: the Café Royal redevelopment on Regent Street; the transformation of Tate Modern on the South Bank; and The Shard at London Bridge.

Mace's international presence grew from 36 to 49 countries in 2009. In Europe, the firm expanded operations in Azerbaijan, Romania, Turkey and the Ukraine, and in Africa won projects in Angola, Libya and Nigeria.

In the Middle East, Mace picked up work in Bahrain and Qatar, and in Asia, the company was awarded its first project in Vietnam.

Mace also entered the Americas for the first time this year as Macro, a facilities management business, taking the brand to Canada, the Caribbean and USA.

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