{"id":129926,"date":"2023-07-18T10:35:51","date_gmt":"2023-07-18T09:35:51","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=129926"},"modified":"2023-07-18T10:35:51","modified_gmt":"2023-07-18T09:35:51","slug":"maces-2022-annual-accounts-reveal-impressive-growth-profitability","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/maces-2022-annual-accounts-reveal-impressive-growth-profitability\/129926\/","title":{"rendered":"Mace\u2019s 2022 annual accounts reveal impressive growth and profitability"},"content":{"rendered":"<h2>Mace published its 2022 annual accounts, reporting stable revenues and consistent profitability. The business grew by over a third and generated \u00a3500m in turnover<\/h2>\n<p>Mace\u2019s 2022 annual accounts showed that the construction consultancy company reached its 32nd-year consecutive year of probability.<\/p>\n<p>Pre-tax profit stood at \u00a336.5m (\u00a338.3m in 2021). The turnover remained consistent with 2021, reaching \u00a31.936bn (\u00a31.933bn).<\/p>\n<p>Mace\u2019s operating profit, excluding exceptional items, amounted to \u00a345.4m. Despite incurring an impairment of \u00a313m on a loan to a development joint venture, the company managed to achieve a profit before tax.<\/p>\n<h3>Mace\u2019s 2026 Business Strategy is in full flow<\/h3>\n<p>2022 was the second year of <a href=\"https:\/\/www.macegroup.com\/about-us\/our-strategy\" target=\"_blank\" rel=\"noopener\">Mace\u2019s 2026 Business Strategy<\/a>. This strategy aims to achieve \u00a33bn of revenue by 2026. Mace has created new ways of working and governance across the Group.<\/p>\n<p>These include focusing on global growth strategy across the UK &amp; Europe, the Americas, the Middle East and Africa, and Asia Pacific.<\/p>\n<p>Mace\u2019s \u00a3500m increase in revenue represents a 36% rise from 2021. Growth was observed across all four hubs, and the business achieved successful placements on several major global programmes with a value of over \u00a3100bn.<\/p>\n<p>These programmes range from the <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/ellinikon-regeneration\/105967\/\" target=\"_blank\" rel=\"noopener\">Ellinikon regeneration project<\/a> in Athens to the multi-billion-dollar Metrolinx programme in Toronto.<\/p>\n<p>Mace hit several 2026 Business Strategy targets. These include a 7% reduction in carbon emissions (amounting to a total reduction of 57% since 2019), a contribution of \u00a3682.4m to society (a 27% increase from 2021), and an investment of 3% (\u00a357m) of its revenue in research and development.<\/p>\n<h3>Record levels of safety across the company<\/h3>\n<p>The company reported a 0.03 accident frequency rate across the business, beating its 2026 target of 0.04.<\/p>\n<p>This marked the safest year in Mace\u2019s history. Mace also achieved its target of identifying more than a million tonnes of carbon savings within client projects four years early and has expanded the target to identifying 10m tonnes by 2026.<\/p>\n<p>\u201c2022 was a successful year across the Group; particularly the growth of our global consultancy business \u2013 which expanded by more than a third \u2013 and our record-breaking safety performance,\u201d said Mark Reynolds, Mace\u2019s chairman and group chief executive.<\/p>\n<p>\u201cWe 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,\u201d he added.<\/p>\n<p>In 2022, Mace established a new advisory board chaired by Dame Allison Nimmo DBE. This board provides senior strategic advice to Mace&#8217;s Executive Board, which convened for the first time in December. The Advisory Board brings together diverse expertise to offer strategic counsel and challenge Mace&#8217;s senior leadership.<\/p>\n<p>The accounts include a \u00a313m impairment related to a loan in a development joint venture. This impairment reflects the re-evaluation of one of the group&#8217;s remaining development assets, specifically a mixed-use scheme in Oxford.<\/p>\n<p>In recent years, Mace has reduced its exposure to the UK property market and strengthened its balance sheet. This improvement is evident in the year-end cash position, transitioning from a net debt of \u00a3147m in 2019 to a net cash balance of \u00a373m in 2022.<\/p>\n<p>\u201cMace 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\u2019s a team I\u2019m honoured to be a part of,\u201d concluded Mark Reynolds.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Mace published its 2022 annual accounts, reporting stable revenues and consistent profitability. The business grew by over a third and generate \u00a3500m in turnover<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[664,908,283],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-129926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction-services","8":"tag-economy","9":"tag-finance"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mace\u2019s 2022 annual accounts reveal growth and profitability<\/title>\n<meta name=\"description\" content=\"Mace&#039;s 2022 annual accounts revealed a 32nd consecutive year of profitability, with pre-tax profit of \u00a336.5m\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/maces-2022-annual-accounts-reveal-impressive-growth-profitability\/129926\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mace\u2019s 2022 annual accounts reveal impressive growth and profitability\" \/>\n<meta property=\"og:description\" content=\"Mace published its 2022 annual accounts, reporting stable revenues and consistent profitability. 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