- Stephen Pyecroft said new work over the year included a major data centre in Ireland for the construction team
Problem contracts and rising costs saw margins at Mace’s UK and Europe division crash from 1.7% to less than 0.5%.
- Overall the group operating margin including construction, consultancy and FM activities around the world halved to 1.1% over the year.
- Announcing Mace results for last year, executive chairman Stephen Pyecroft said: “2015 saw some challenges for our construction business.
“The sector delivered £1.42bn in turnover, an 18% increase on 2014.
- However a number of difficult projects did impact on the margin level delivered to the business.
“But we lived up to our long-standing reputation of being a trusted partner able to deliver large, complex and iconic projects.”
He added: “Mace continues to go from strength to strength and while challenges remain in the UK and global economies, we have an enviable pipeline of work stretching well
into 2016 and beyond.”
Mace’s group pre-tax profits were actually up 4.5% on last year to £36.2m, supported by almost £18m profit from a major property disposal, thought to by its London student accommodation development Assam Place.
- The Higgs Centre for Innovation will be built at the Royal Observatory in the city.
- HILLSBOROUGH based building firm Graham Construction has secured a £6.3 million to build a space centre in Edinburgh named after renowned particle scientist Peter Higgs.
- The space centre is just the latest in Scotland.
- The new Higgs centre in Edinburgh will focus on space and big data technologies and the whole scheme will cost £12m when fitting out is complete.
- Last month, Graham completed a £10m primary school in Fort William for the Highland Council.