Seven years of growth for construction consultancy as turnover rises to £491m
Global construction consultancy Turner & Townsend has delivered its seventh year of successive growth with turnover of £491m, an increase from £409m for the previous year.
The Leeds-based business, which works on some of the world’s largest capital projects and programmes across the real estate, infrastructure and natural resources sectors and employs nearly 4,700 people in 104 offices, reported profit after tax of £36.2m for the year ending April 30 2017, a rise of 22% from £29.6m.
The firm said the strong growth has been achieved against the backdrop of volatile global market conditions.
Despite low commodity prices continuing to affect the Middle East, Turner & Townsend increased annual revenue in the region by 42% to £45.6m compared to £32.2m in 2015-2016.
Growth in its UK infrastructure and real estate business saw UK revenue climb by 18.3% to a record £212.5m. Revenue increased in North America to £71.6m and £45.2m in Australia and New Zealand.
Across its sectors, Turner & Townsend delivered strong growth in global real estate (revenue up 21% to £237m) and infrastructure (revenue up 26% to £155m), with natural resources revenue reaching £53m in a tough trading environment where investment in major projects remains low.
The past twelve months has seen Turner & Townsend appointed to a series of major new projects and programmes, including providing strategic support as one of four programme client partners for the expansion of London Heathrow Airport.
Vincent Clancy, chairman and CEO of Turner & Townsend, said: “Against the backdrop of a continuing volatile global market, we have delivered another year of significant growth and exceptional financial results. Our diversified global business, investment in our long-term capability, and growing geographical reach are critical to our success, ensuring we are well placed to pursue our goal to be the world’s leading independent professional service provider within capital programmes by 2020.
“Our decision to operate a partnership model to motivate the best talent has proved the right one both for us and our clients. It is a structure which ensures we have the flexibility to make independent decisions in our clients’ best interests and take a long-term view on investment – supporting both our sustainability as a business and enabling us to create a positive legacy.”
