Revenue and profits soar for global construction consultant
GLOBAL management and construction consultancy Turner & Townsend, which has 200 of its 4,300 staff based in Manchester, says revenue has jumped 8% to £409m and profit after tax has climbed 9% to £30m.
It is the sixth successive year of growth with profits almost tripling in five years.
Annual revenue rose by 24% in the company’s Australia and New Zealand operation, 9% in Europe and 14% in the UK and Ireland – where turnover reached a record £180m. Revenue also grew in Africa and Latin America.
Across its sectors, the company recorded strong growth in global real estate revenue (up 15% to £196m) and infrastructure (up 16% to £123m), which more than offset the impact on revenue from challenging conditions seen in the natural resources sector.
A series of high-profile project wins underpinned the success, including commissions to support the delivery of airports in Houston and Dallas, the UK’s HS2 rail line and Australia’s largest-ever hotel and residential complex, The Jewel.
The consultancy continued to invest in both its capability and reach throughout the year, increasing staff numbers by four percent and strengthening its operations in Auckland, Cambridge, Fort Worth Istanbul, Mexico City, Miami, Nairobi and Orlando.
Turner & Townsend also became a partnership business, reinforcing its independence and setting it apart from its competition.
The company’s new structure is already bearing fruit as it attracts and rewards talented professionals from around the world who share the company’s vision and ambition – to be the largest global partnership in its space.
Chief executive Vincent Clancy said: “Our achievements are a testament to the strength of our business, despite a backdrop of significant volatility.
“The past year has seen us become the partner of choice for many of the world’s largest capital programmes, and our diversified business model continued to serve us well – giving us the flexibility to adapt to changes in individual markets.
“We’ve grown our global footprint, supporting our key regional hubs and strengthening our operations around the world to better serve our clients wherever and whenever they need us.
“Through our partnership, we’ve continued to invest in our people by giving a pathway for our most talented employees to become partners – with a say in how the business is run and a share in our success.
“With the UK set to leave the EU and volatility in other global markets, these are changing times for our industry. However, 70 years on from our formation, I am confident our strong business model and investment in our capability will continue to see us on the right path to deliver long-term sustainable growth.”
