Last year was a strong year for professional services firm Mace. The firm’s recently released Annual Report reveals that the firm has created more than 500 new jobs in 2014, while generating a record turnover of £1.49 billion, an increase of 26%, with pre-tax profits up 8% to £35 million.
2014 saw consulting firm Mace launch its 2020 business plan, which aims at improving its position across the board, including in growing in turnover, profit and employee numbers while at the same time creating deliverable for clients and improving safety standards on site.
Strong and successful year
So far, the vision’s efforts appear to have paid off as Mace booked a 26% increase of its annual turnover, reaching £1.49 billion, as a result of which 72% of the firm’s turnover target for 2015 was already obtained by late 2014. Its pre-tax profits also increased, with 8%.
On the back of these strong financial results, Mace was able to create more than 500 jobs created in 2014 which constitutes growth of 12% to now employing 4,657 people worldwide. In addition, the firm recruited 58 graduates through a partnership with Imperial College in London and added 18 construction trainees. In 2014, a third (34%) of the graduates hired was female, highlighting the firm’s aim to develop top female talent across its business.* New recruitment plans have already been laid down to reach its goal of employing 2,500 more employees by 2020 as set out in its vision.
Besides a focus on recruitment, the company also sought ways to improve deliverables for clients, which also paid off. Mace’s projects were being given an 83% client satisfaction score, up 1% on the previous year. The consultancy also scored a number of large deals, including the redevelopment of the former BBC Television Centre, Dubai Expo 2020 and the £1.7 billion Silo Direct Encapsulation Plant waste processing facility at Sellafield, as well as an expanded project management role on GlaxoSmithKline’s UK and US estates.
Safety has also improved in 2014, with an accident frequency rate of 0.09 all while maintaining a workforce of over 10,000 on our sites. To reach this increased safety, the firm used its YellowJacket platform to conduct 40,151 safety observations. Overall, the firm managed to achieve a 29% year on year reduction in lost time incidents.
In 2014, the firm also spent considerable time and money in its Mace Foundation, set up in 2013. It donated £394,000 to charitable organisations and its six strategic partners. In addition, 850 Mace volunteers supported community initiatives and created 4.2 hectares of new community spaces.
Mace Executive Chairman, Stephen Pycroft, says: “Despite continued global economic challenges I am pleased to report a robust set of results for the company. Our focus on developing our people and delivering for our clients continued through the year and we see this strategy as central to our future growth. As we celebrate our 25th anniversary in 2015, I am proud of what we have achieved in 2014 and the strong platform we have created for the future.”
Mace Chief Executive, Mark Reynolds, says: “2014 was another strong and successful year for Mace as we continued to grow in a steady and sustainable way and meet our targets. […] None of this would be possible without the support of our excellent people and our success is a testament to their dedication, entrepreneurialism and hard work.”
* Early 2015, Mace launched its Women of the Future programme, as part of its 2020 business plan, to hire and nurture more top women in its UK business.