Mace creates 500 jobs as turnover increases with 26%

15 July 2015 Consultancy.uk

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.

Mace - Financial highlights

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.

Mace - People highlights

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.

Mace - Health and safety highlights

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 - Corporate responsibility highlights

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.

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PA Consulting results reveal record 14% revenue growth

17 April 2019 Consultancy.uk

Global professional services firm PA Consulting has reported another year of strong growth, outpacing the global consulting market significantly over the duration of 2018. PA’s revenue boomed by 14%, passing £455.8 million over the course of the year.

Founded in 1943, by Englishmen Ernest Butten, Tom Kirkham and David Seymour, the firm once known as Personnel Administration has since gone on to become one of the largest consulting firms in the world. PA Consulting Group, as it is now known, has over 2,600 professionals and a global presence spanning 18 countries. While turnover took a decade to recover from a rocky spell after the global financial crisis, PA Consulting is now firmly on the upward incline.

PA has booked strong growth in recent years, following its securing of private equity investment from the Carlyle Group in 2015. While the first full year of results following that move were slightly muted, due in part to the altering of how PA measured its results, the decision has clearly paid dividends since. Revenues jumped by 6% in 2017, hitting an all-time high of £400 million in the process.

Annual consulting revenues of PA Consulting versus UK market

Now, in the latest chapter of the firm’s rapid turnaround, the innovation and transformation consultancy has revealed things only got better in 2018. A set of record results released in April have confirmed that fee income rocketed up by 14% over the course of the prior 12 months, hitting £455.8 million. Considering the UK’s consulting market saw growth slow for the second year running (just 5.6%), PA’s performance is even more pronounced, especially in its first year of full results since influential Chair Marcus Agius stood down. 

The firm is also outpacing the global consulting market. Analytics firm Statista estimates that the consulting market expanded by 4.08% in 2018. As a result of such bullish demand, PA Consulting has also bolstered its staffing, boosting its consulting team’s headcount by 10% in the space of 12 months. 

PA’s team was further strengthened with its continued acquisition campaign, which brought three new firms into the fold during 2018. Boston-based innovation company Essential Design, specialist digital service design firm We Are Friday and London-based digital insight and strategy consultancy Sparkler all became part of PA over the course of the year. PA has also announced plans to recruit 400 professionals for its new digital centre in Belfast. 

‘Not traditional’

In terms of client work, in the UK PA supported Skipping Rocks Lab to create an edible alternative to single use plastic drink packaging, and worked on a notable restructuring project at disability charity Scope. Further afield, PA helped Norwegian authorities deliver their citizen-facing digital services, while in the US and India, PA partnered with Virgin Hyperloop One to build the first new mode of transport in a century, one that hopes to revolutionise travel. It even worked with United Nations to identify the technologies most likely to contribute to the achievement of the organization's Sustainable Development Goals.

Commenting on the year’s performance, Alan Middleton, PA Consulting CEO, said, “We’re not a traditional consulting firm and we think this is key to our ongoing success and why 98% of our clients recommend us… Our people are strategists, technologists, digital experts, consultants, designers, scientists and engineers – all of whom bring real-world experience, and apply it at pace. We offer the innovation, design, digital and transformation skills that our clients need to change, fast. There’s a sense of optimism behind our purpose. And it’s a feeling that inspires our people as well as our clients.”

The existing staff of PA also enjoyed a bumper year, as it was revealed that a refinancing manoeuver at the firm was expected to land over 1,000 employee shareholders a significant pay-out. The firm’s debt, which includes vendor loan notes put in place when Carlyle purchased the firm, is set to be refinanced in a deal worth £350 million.