Turner & Townsend revenue rises to record £491m
July 19, 2017 – Notching up a strong performance in the Middle East and the UK, consultant Turner & Townsend is celebrating its seventh straight year of growth with turnover hitting £491m in the year ending 30 April 2017, a 20% increase on the previous year.
Profit after tax was also up at £36.2m, a rise of 22% from last year, it announced 19 July.
One of Turner & Townsend’s Middle East projects is Qatar’s multibillion-dollar Expressway Programme (Turner & Townsend)
Amid what it called “volatile global market conditions”, the firm put its results down to investment in long-term capability and a diversified business model around the world.
Despite low the low oil price it increased revenue in the Middle East by 42% to £45.6m compared to £32.2m in 2015-2016.
Growth in its UK infrastructure and real estate saw revenue climb there by 18.3% to a record £212.5m. Revenue was also up in North America (£71.6m) and Australia and New Zealand (£45.2m).
The past year saw Turner & Townsend appointed to a some major new projects including as one of four Programme Client partners for the expansion of London Heathrow Airport.
In real estate, work has included a pan-Americas roll-out programme for Uber and multiple roles on the Perth Children’s Hospital in Western Australia.
In natural resources the business is delivering a range of project management services for the expansion of one of the world’s largest copper and gold mines at Oyu Tolgoi in Mongolia.
Vincent Clancy, chairman and chief executive, praised the company’s move to a partnership model.
“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.”