The contractor building the Shard increases pre-tax profit by 30% to 拢19.3m

Mace has revealed its ninth consecutive increase in yearly profit.

Pre-tax profit at the contractor increased 30% to 拢19.3m for the year ended December 31 2009.

Turnover for the company building the 1,000ft Shard at London Bridge rose 18% from 拢617m to 拢726m.

63% of the company鈥檚 turnover came from UK construction, 19% from UK consultancy and 18% from overseas consultancy and construction.

Mace said it had a cash balance of 拢106m, and expanded into 13 new countries during 2009, bringing the total to 49.

Chairman and chief executive Stephen Pycroft said:

鈥淭he company performed robustly in 2009 against a backdrop of challenging trading conditions. In 2010 the quality of the people we employ, our supportive clients and our growing financial strength and capability in our sectors give the board confidence that we will continue to grow and raise the profile of the business.鈥�

Group finance director David Vaughan added: 鈥淲hile we expect our future markets to remain challenging in 2010, we are seeing some signs of recovery in certain markets. We entered 2010 with 76% of our order book secured which gives us confidence of achieving our target of becoming a 拢1bn company by 2012.鈥�

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