Mace Assemble has outlined ambitions to increase its infrastructure operations, as the primary group accounts printed since its separation from Mace Seek the advice of present the development division turned over £2.31bn in 2025.
The bulk sale of Mace Seek the advice of to Goldman Sachs Options was accomplished in March 2026, after the interval lined by the accounts – the yr to 31 December 2025.
Mace mentioned the demerger had eliminated perceived conflicts of curiosity arising from its former consultancy arm’s position advising asset homeowners. This, it mentioned would enable the remaining development division – named Mace Assemble till its imminent rebrand – to pursue work in new infrastructure markets, together with rail, water, ports and defence.
Mace Group chief government Jason Millett mentioned: “It is going to take time for this diversification technique to supply important progress, however we’ve got already began gauging curiosity and initiating early conversations in these essential markets.”
Turnover on the development division – now generally known as Mace Assemble – elevated by 10.5 per cent from £2.09bn to £2.31bn in 2025.
This could have put it tenth in this yr’s CN100, Development Information’ record of the highest UK development corporations.
Nonetheless, Mace Group government chairman Mark Reynolds restated the agency’s ambition to turn into one of many UK’s three largest contractors.
The development division generated £41m in divisional pre-tax revenue throughout 2025, in contrast with a restated £5.6m for 2024.
Its divisional pre-tax margin elevated from 0.3 per cent to 1.8 per cent.
The contractor initially reported £15.7m in pre-tax revenue for 2024, however the newest accounts reallocate £10.1m of income and revenue from development actions to the discontinued Seek the advice of enterprise.
The development division’s excludes central group prices, distinctive fees and legacy improvement actions.
As soon as these are included, Mace Group’s remaining operations, excluding the now-separated consultancy enterprise, recorded a statutory pre-tax lack of £61.9m in 2025, in contrast with a £44.6m loss the earlier yr.
The loss consists of £59.7m of outstanding fees, comprising £22.7m of restructuring and separation prices, £21m referring to the termination of a share-appreciation rights scheme and a £16m impairment in opposition to a mortgage to its Botley improvement three way partnership.
Mace Group chief monetary officer David Allen mentioned the corporate anticipated to considerably cut back administrative bills allotted to its different actions following the demerger.
The separation additionally allowed Mace Group to repay its remaining borrowings in March 2026, leaving the development enterprise debt-free.
It additionally recognised a £13m provision following harm to a property arising from work carried out by a subcontractor.
The property and subcontractor weren’t recognized.
Mace mentioned an investigation into the underlying trigger was persevering with and that it anticipated insurance coverage to cowl the prices, though no declare had been made in opposition to the corporate on the reporting date.
In the meantime, Mace Assemble reported 42 per cent progress in its infrastructure enterprise throughout 2025 and expects the division to generate roughly £500m in income in 2026.
The contractor has decreased its development enterprise models from 5 to 3: Business; Public, Life Sciences and Expertise; and Infrastructure.
It mentioned it had adopted a extra selective strategy to bidding, with 58 per cent of the worth of recent contracts signed throughout 2025 involving lower-risk preparations resembling target-cost and development administration contracts.
Mace mentioned these preparations typically generated much less income than conventional contracting however provided extra enticing margins.
The development division secured 28 new initiatives with a mixed worth exceeding £5.3bn throughout 2025 and accomplished 32 schemes, 19 per cent greater than in 2024.
Its infrastructure enterprise accomplished the £153m refurbishment of Heathrow Airport’s cargo tunnel and the £400m redevelopment of Manchester Airport’s Terminal 2. It additionally secured an £85m contract to increase Pier 6 at Gatwick Airport.
Elsewhere, the development division secured the development administration appointment for the British Library extension and signed the primary development contract for the Vulcan 20-20 laser analysis facility in Oxfordshire.
The division reported a year-end workforce of two,175, together with company and contingent employees.
Mace Assemble mentioned 2026 could be a transitional yr because it eliminated overheads related to its former international construction and developed a extra streamlined UK development enterprise.
This story was developed, checked and edited by a human editor, with drafting and extra checking help from a bespoke Development Information AI instrument.
