Mace

Mace has posted record turnover and profit figures in its latest annual accounts, including its highest construction revenue for five years. Turnover rose by 25 per cent in the 2023 calendar year to reach £2.36bn while pre-tax profit soared by 69 per cent to £61.7m. The profit figure was restated…

Mace has promoted two staff to lead some of its fastest growing areas: life sciences, data centres and the public sector. Rob Lemming becomes the contractor’s managing director for public sector and life sciences, while Alister Grey takes up the role of managing director for technology and manufacturing. Lemming took…

Mace chief executive Mark Reynolds has said government intervention is needed to get rid of retentions as there is not enough support for the measure in industry.  Speaking on Construction News’s First Site podcast, the co-chair of the Construction Leadership Council (CLC) acknowledged that his efforts to remove standard retentions…

A senior Mace executive is looking to swap construction for legislation by standing as a Labour candidate in the forthcoming general election. Mike Reader, global lead for winning work in Mace’s consulting arm, is hoping to get elected in the key battleground of Northampton South. Reader has worked at Mace…

Mace has been confirmed as main contractor on a bumper job to redevelop a central London office block. Construction News understands that the deal is worth around £100m. The contractor will turn 100 New Bridge Street into a multipurpose site consisting of 194,000 square feet of office space and more than…

Mark Reynolds is stepping down as chief executive of Mace after more than 12 years at the helm, amid a massive governance shake-up at the tier one contractor. Reynolds, co-chair of the Construction Leadership Council (CLC), joined the firm as chief executive in 2012 after serving as programme director for…

Mace has appointed a new head of civil and structural engineering. Martin Feakes served as UK market director for buildings and as head of buildings London during 18 years in two spells with structural engineering firm Ramboll. In between, he worked as group director at Buro Happold, acting as commercial…

Mace has warned that some contractors are likely to aggressively cut bid prices as material and labour costs drop. In its latest quarterly report on the UK construction market, Mace’s consultancy arm said it expected tender-price growth of 2.5 per cent nationally and 2 per cent in London this year…

A joint venture between Mace, Arcadis and tech firm Parsons has been chosen to deliver a $16bn (£12.63bn) US tunnelling project under the River Hudson between New York and New Jersey. The joint venture, named MPA Delivery Partners, will work with client Gateway Development Commission to coordinate stakeholders, contractors and…

Mace is predicting weak growth to continue in 2024. The firm’s consultancy arm has warned that the Bank of England’s predictions of a flatlining economy, high interest rates and the fact that contractors have “already squeezed margins as far as they can go” means tender-price inflation will ease. In a…