In 2025, Mace Construct generated £2.3bn of revenue and £6.5m of operating profit before exceptional costs. The split, which saw Mace Consult carved out of the group, and a change in the value of a development project generated £59.7m of exceptional costs.
Mace said that the transaction allowed shareholders to reinvest £200m into Mace Construct. The completed deal left the Construct business debt free and, it said, focused on delivering major infrastructure and property projects as a UK contractor.
Mace Construct’s 2026 trading has been positive, albeit with a reduced revenue forecast because macroeconomic factors have delayed the conversion of some second stage projects and several major infrastructure clients have limited their capital spend.
As a result of this lower workload, the group says it has been actively targeting significant cost reductions across the business.
In 2027, the business plans a rebranding and new identity. Mark Reynolds, executive chairman since January 2025 will return to operational leadership as chair and chief executive on January 1 2027. The group's board and executive committee will now meet together, while independently chaired audit and risk, and people, remuneration and nominations subcommittees will be retained.
Stephen Jeffery, chief operating officer, will join the board alongside Mark Reynolds and Tony Athurton, interim chief financial officer.
Alison Nimmo, senior independent director since January 2025, will step down as a non-executive director in October; Sylvia Metayer, chair of the people and remuneration committee, will succeed her.
The executive committee will expand to include operational and commercial leadership from across Mace Construct. Managing directors Nigel Cole, Ged Simmonds, Rob Lemming and Gavin Seager have joined the committee, alongside Steven Harris, commercial director.
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