It was Mace鈥檚 29th consecutive year of making a profit.
In the pre-Covid year to 31st December 2019, Mace Group saw its revenue decline 28% to 拢1.8bn (2018: 拢2.3bn).
The drop in revenue was attributed mainly to high income from international data centre business in 2018. International work fell 37% in 2019 to 拢524m (拢2018: 拢831m).
An additional 拢688m of work was undertaken on construction management contracts during the year (2018: 拢713m) but Mace does not include this in group revenue as it has no contractual arrangement with the supply chain.
Consultancy turnover increased by 15% to 拢314m (2018: 拢274m). International work fell 37% to 拢524m (拢2018: 拢831m).
Profit before tax increased to 拢35.3m. Mace reported a pre-tax profit in its 2018 accounts of 拢32.8m but that has since been restated to 拢23.8m using a newer financial reporting standard. This makes 2019鈥檚 pre-tax profit 拢48% up on 2018.
The Mace Consult consultancy business delivered 拢38.3m pre-tax profit on revenue of 拢314m in 2019. The Mace Construct contracting business made 拢45.9m pre-tax profit on revenue of 拢1,390m. Mace Operate lost 拢1.4m before tax on revenue of 拢144m.
Mace has seen 12 construction projects cancelled during 2020 as a result of the Covid-19 pandemic, mostly in the aviation sector.
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