Turnover surpasses £1bn at professional services business

Leeds-headquartered professional services company Turner & Townsend has published its annual review, reporting “exceptional” results with its global turnover breaking the £1bn mark for the first time.

In the UK, revenue has increased by 25.6% over the past year to reach £404m, and employee numbers have risen 17% to 4,206.  This has been achieved largely through organic growth.

Global turnover and net revenue for the business have risen to £1.2bn and £1.1bn – increases of 38.6% and 37% respectively – while global EBITDA before exceptionals, showing core profitability, grew to £159m.

Patricia Moore, managing director, UK, said: “Last year saw fantastic growth for our UK business, and we’ve increased the size of our team to respond to clients’ needs – further strengthening our advisory services to support the transition to net zero and the demand for digitalisation to improve programme delivery.

“The hard work of our now 4,000-strong UK team has been crucial to delivering this year’s excellent revenue performance, which is up 26 percent.

“This growth also reflects the demand across real estate and infrastructure as government, private investors and developers work to support changing working patterns following the pandemic.

“We see continued growth in major programme activity and we are well placed to maintain this momentum, with 80% of our UK business now operating in this area.”

Turner & Townsend partly attributes its growth to joining forces with London-based cost management business alinea.

Internationally, real estate net revenue has seen a steep climb – 36.6% – as global corporates continue to invest in adapting commercial property portfolios to meet environmental targets and accommodate hybrid working.

Global infrastructure net revenue rose by 34.3% over the year. The company notes regions around the world are continuing to see heavy investment in transport and utility networks as they expand to meet growing populations and Net Zero demands.

Turner & Townsend is also supporting flagship mobility schemes including Hong Kong’s new Mass Transit Railway (MTR), California High Speed Rail, the new Edinburgh tram extension, and the modernisation and digitalisation of Heathrow Airport.

Meanwhile, the company’s work in the international natural resources market increased by 52.8%, reflecting significant appointments in renewable energy and decarbonisation projects.