Water and Effluent Treatment Magazine
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leaders 2105 11 Severn Trent Water's £6bn framework to provide cost and commercial consultancy services for the next ten years, and United Utilities' programme and project manage- ment consultancy framework. He says Mace is also seeing a growing presence in the nuclear energy sector. During 2013 Mace continued work on EDF's Hinkley Point C new-build project and we are now well positioned as this major construction project gains momentum. "We are also providing programme management and procurement advice to support Sellafield's nuclear decommissioning activities. And we won our first work with Horizon, the wholly owned subsidiary of Hitachi, to review the civil engineering and workforce planning programmes for the new Wylfa and Oldbury reactors." Mace says 2013 was another year of strong performance, reflecting its continuing achievements as it delivers its strategy for 2020. Turnover was up 8% to £1.18bn, and pre-tax profit increased by 14% to £32M. Cash balances were £142M at the year end, with net assets of £25M. The group says the results reflect both the strength of its long-term client relationships, where it continues to win repeat business, and its success in winning new work. This has been underpinned by solid segmental performances, with consultancy contributing £277M (23%) of turnover and the construction division contributing £904M (77%) of turnover. The new infrastructure and major programmes division had a strong first year, contributing £31M of turnover. The year saw an increased focus on cash collection, mainly through working with clients to understand their workflows and processes. This enabled the company to achieve approvals on projects quicker, which, in turn meant it could both pay suppliers and invest, "in a timely manner". THE NUMBERS 2011 2012 2013 % cHaNgE Sales £M 928 1,092.2 1,181.1 8 Gross profit £M 111.2 122.3 137.6 12.4 Operating profit £M 23.9 27.9 30.5 9.2 Pre-tax profit £M 23.2 28.3 32.4 14.3 Staff 2,933 3,327 3,806 14 Net assets £M 18.9 20.2 25.7 27.1 THE RaTIOS 2011 2012 2013 % cHaNgE Return on capital % 122.5 140 125.9 -10 Gross margin % 12 11.2 11.6 4 Operating margin % 2.6 2.6 2.6 1 Net margin % 2.5 2.6 2.7 6 Sales/employee £K 316.4 328.3 310.3 -5