Mace Group more than doubled pre-tax profit to a record £38m last year from £17m in 2021 as revenue rose 12% to £1.93bn.
The improved performance marked Mace’s 31st consecutive year of profitability since being founded.
Chief executive Mark Reynolds predicted this year revenue would top £2bn putting Mace on track to reach 3bn by 2026.
Despite project timescales being impacted by Covid-19, the contracting arm drove growth in revenue and profits contributing £1.5bn or 76% of group revenue.
Operating margin at the division also improved rising to 3.8% from 2.8%.
Mace’s Consult business achieved record growth, reaching £366m – an 7.1% increase on 2020 – and raising headcount to 3,866 from 2,600 at the end of 2020.
Total group headcount rose to top 6,000 staff at the year-end from 5,400 previously.
Reynolds said revenue for the group was budgeted to be £2.15bn for 2022, although he warned this could be missed due to project delays in the face of economic headwinds.
He said: “The continued uncertainty caused by the Russian invasion in Ukraine, energy price increases and more recently currency fluctuations is proving challenging for everyone – however, through industry collaboration and championing better ways of working we are confident that 2022 will be another record year.”
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