Global turnover hits £409m as Turner & Townsend see sixth consecutive year of growth

Turner & Townsend, the Leeds-headquartered professional services consultancy, has reported an increase in turnover by 8% to £409m in the year ending 30th April 2016.

The company, which employs nearly 4,300 staff across 97 offices worldwide, has now seen six consecutive years of revenue growth. Its profit after tax of £30m has almost tripled in five years.

During volatile market conditions over the past year, Turner & Townsend saw growth across all three core sectors – real estate, infrastructure and natural resources – and in 41 global markets.

For example, the company’s Middle East operation countered last year’s fall in oil prices through increased real estate and infrastructure work, which resulted in a total revenue increase of 24%.

Annual revenue also rose by a 24% in Turner & Townsend’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.

In addition, Turner & Townsend recorded a 15% in growth in global real estate revenue to £196m, and an increase of 16% in infrastructure to £123m.

Throughout this growth period, the company also secured a number of new project wins, including commissions to support the delivery of airports in Houston and Dallas, the UK’s High Speed 2 rail line and Australia’s largest-ever hotel and residential complex, The Jewel.

Turner & Townsend saw staff numbers grow by 4% and expanded operations in Auckland, Cambridge, Fort Worth Istanbul, Mexico City, Miami, Nairobi and Orlando.

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

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