Record turnover for Turner & Townsend

Vincent Clancy

TURNER & Townsend increased turnover by 8% to a record £409 million in the year ended 30 April 2016 despite “volatile” market conditions.

The professional services consultancy also saw a 9% rise in profit after tax to £30 million.

The firm, which employs nearly 4,300 staff across 97 offices globally, confirmed it has now achieved six consecutive years of revenue growth.

Turner & Townsend said its Middle East operation “balanced” the abrupt fall in oil prices through increased real estate and infrastructure work, successfully growing total revenue by 24%.

The company’s Australia and New Zealand operation also increased revenue by 24%, while Europe (9%) and the UK and Ireland (14%) also delivered growth. Revenue also grew in Africa and Latin America.

The firm recorded growth in global real estate revenue (up 15%) and infrastructure (up 16%), which the company said “more than offset” the impact on revenue from challenging conditions seen in the natural resources sector.

High-profile project wins included 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.

Vincent Clancy, chief executive officer for Turner & Townsend 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.”