{"id":62524,"date":"2019-09-03T09:27:44","date_gmt":"2019-09-03T08:27:44","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=62524"},"modified":"2019-09-03T09:29:51","modified_gmt":"2019-09-03T08:29:51","slug":"mace-2018-annual-report","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/mace-2018-annual-report\/62524\/","title":{"rendered":"Mace 2018 Annual Report shows \u00a332.8m in profits"},"content":{"rendered":"<h2><a href=\"https:\/\/www.macegroup.com\/\" target=\"_blank\" rel=\"noopener\">Mace<\/a> has published its 2018 Annual Report, which shows that the company is in a strong financial position, as it reveals \u00a332.8m in profits in 2018, a 1.4% margin<\/h2>\n<p>For the first time, Mace achieved more than \u00a32bn in turnover according to its 2018 Annual Report. This increase was ahead of its <a href=\"https:\/\/www.pbctoday.co.uk\/news\/hr-skills-news\/mace-stonewall-diversity-champion\/58084\/\" target=\"_blank\" rel=\"noopener\">2022 Business Strategy<\/a> and was due to the completion of a number of successful projects.<\/p>\n<p>The business has continued to focus on achieving sustainable margins, <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-payment-rules\/57493\/\" target=\"_blank\" rel=\"noopener\">speed of payment<\/a> to its supply chain and carefully managing risk.<\/p>\n<p>Dennis Hone CBE, Mace\u2019s chief financial officer, will be retiring at the end of 2019. Hone joined Mace from the <a href=\"https:\/\/www.queenelizabetholympicpark.co.uk\/\" target=\"_blank\" rel=\"noopener\">London Legacy Development Corporation<\/a> in 2014. He will continue to work with Mace as CEO of the Mace Foundation.<\/p>\n<p>Richard Bienfait will be appointed as Mace\u2019s new chief financial officer at the end of January 2020.<\/p>\n<h3>Key points from Mace\u2019s 2018 Annual Report:<\/h3>\n<ul>\n<li>Mace recorded \u00a332.8m in profits in 2018, a 1.4% margin<\/li>\n<li>International turnover rose by 25% to \u00a3831m<\/li>\n<li>\u00a344m was invested in R&amp;D activities<\/li>\n<li>Cash balances rose 7% to \u00a3209m<\/li>\n<li>Turnover increased by 19% to \u00a32.35bn<\/li>\n<li>The value Mace contributed to society rose from \u00a3449m to \u00a3491m<\/li>\n<li>Over the year our average time to pay invoices fell from 45 to 34 days<\/li>\n<li>209 apprentices, trainees and graduates joined Mace in 2018<\/li>\n<li>Over \u00a3870,000 was donated to charities and worthy causes through the Mace Foundation and from our colleagues.<\/li>\n<\/ul>\n<p>Mark Reynolds, chief executive of Mace, said: \u201c2018 was a good year for Mace, with a significant increase in revenue and the amount of international work we do rising by a quarter to \u00a3831m; reflecting the fact that we are now well established as one of the leading global consultancy and construction businesses.<\/p>\n<p>\u201cWhilst we all face uncertainty in the short to medium term and it is hard to predict how the UK construction and consultancy sectors will fare over the next twelve months, I remain confident that Mace will remain in a strong position. Our 2022 Business Strategy will continue to guide our decision making and will ensure we remain a resilient, responsible and profitable business that offers career-defining opportunities for our people.<\/p>\n<p>\u201cAlongside our annual results, I am also pleased to announce the appointment of Richard Bienfait as our new group CFO. Richard\u2019s excellent sector experience means that he is well placed to support Mace on the next steps of our journey, and I look forward to working closely with him. I would like to thank Dennis Hone for his support over the past five years and wish him all the best in his retirement.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Mace has published its 2018 Annual Report, which shows that the company is in a strong financial position, as it reveals \u00a332.8m in profits in 2018, a 1.4% margin.<\/p>\n","protected":false},"author":16,"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":[676,283,21873],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-62524","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction","8":"tag-finance","9":"tag-mace"},"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 2018 Annual Report shows \u00a332.8m in profits<\/title>\n<meta name=\"description\" content=\"Mace has published its 2018 Annual Report, which shows that the company is in a strong financial position, as it reveals \u00a332.8m in profits in 2018\" \/>\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\/mace-2018-annual-report\/62524\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mace 2018 Annual Report shows \u00a332.8m in profits\" \/>\n<meta property=\"og:description\" content=\"Mace has published its 2018 Annual Report, which shows that the company is in a strong financial position, as it revealed \u00a332.8m in profits in 2018, a 1.4% margin\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/mace-2018-annual-report\/62524\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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