Mace has increased its annual turnover to £1.77 billion as the company announced its annual report for 2015.

Marking its 25th consecutive year of growth, the firm revealed pre-tax profits also rose 4.5% on last year to £36.2 million.

In addition, the company's investment business posted a gross development value of £1.4bn and saw the sale of its student accommodation development in London, Assam Place.

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However, its UK and Europe Division experienced a decline in its trading profits, from £25m to £9m

Chief Executive, Mark Reynolds, 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."

"I'm confident that we will continue to strengthen our position in the market and maintain our commitment to supporting the communities in which we work."

(LM/MH)