Mace, a UK-based construction and consultancy company, has reported revenue of £2.36bn ($3.07bn) in 2023, marking a 25% increase from £1.89bn reported in 2022.
This growth is attributed to the expansion of its global consultancy work.
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Profits before tax from continuing operations also climbed by 68% to £61.7m, up from £36.7m last year.
Meanwhile, operating profit soared by 94% to £64.3m from £33.1m in the previous year.
By the end of 2023, Mace’s cash reserves had grown to £175.81m, an increase from £153.93m in 2022.
Mace’s consultancy division experienced a 24% revenue boost to £619.4m, driven by new projects across Asia, the Middle East, the Americas, the UK, and Europe.
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By GlobalDataThe company’s construction segment also saw a rise, with revenue increasing to £1.73bn in 2023.
Throughout the year, Mace secured a total of 60 new projects.
The company also increased its research and development investment by 19.3% to £68m.
Mace aims to achieve more than £3bn in revenue by 2026 and save ten million tonnes of client carbon, having already achieved a reduction of 1.77 million tonnes.
Mace chair and group chief executive Mark Reynolds said: “Our vision is for Mace to be the world’s leading programme and project delivery consultant and construction expert – a purposeful and sustainable business; and 2023’s results show that we are well on the way to making that a reality.
“Much of our growth in 2023 came from securing major consultancy programmes around the world. Our Delivery Partner expertise means that Mace is one of the few credible global consultants that is able to provide clients with the confidence they need to deliver complex projects at scale with rigour and discipline.”
In May this year, Mace was appointed as the main contractor for the City of London’s office redevelopment at 100 New Bridge Street.
