Mace has reached the £2bn turnover mark two years earlier than it had originally planned.
The company set a target of 2020 to reach turnover of £2bn back in 2013 but announced this morning that as of yesterday (12 November) it has already achieved its goal for its 2018 financial year, which began in January and ends on 31 December.
Turnover at the group has doubled over the last five years, placing it among the top 10 UK contractors.
It now also derives a third of its turnover from international activities and has remained profitable each year, it said.
In addition to its current work as construction manager at major London projects such as phase two of Battersea Power Station and the delayed £800m Tottenham Hotspur stadium, the firm has worked on a series of high-profile, challenging projects in rtecent years.
They include the construction of The Shard in London, as well as helping to deliver the 2012 London Olympic and Paralympic Games through the CLM consortium.
It has also been involved in the construction of projects like Landmark 81 in Vietnam, Birmingham New Street Station, Tate Modern’s Switch House in London, Manchester Town Hall, Dubai Expo 2020, Porsche’s North American Headquarters and the 2019 Pan-American Games in Peru.
The business is now focusing on delivering “sustainable” margins of at least 2.5% by 2022 and is investing £350m in research and development activities to become more productive and efficient. It also wants to balance out its consultancy and construction work in order to be able to be more resilient to market fluctuations.
Chief executive Mark Reynolds said: “Over the past 28 years, Mace has been on an amazing journey. We have seen the market change, we have seen great achievements and admittedly learnt some lessons along the way. Our company mission is to continuously pursue a better way which has helped us to grow and deliver on our promises.
“I am proud to say we have reached £2bn turnover, but more importantly, I am proud to say that we have the best people, who make up the best teams on some of the best projects in the world.
“On behalf of the Mace Group Board, I want to thank all of our clients who have supported us on our journey and have trusted us to deliver on their vision.”
