Turner & Townsend boosts global turnover to GBP375m
Global programme management and construction consultancy Turner & Townsend has increased its turnover by 12 per cent to GBP357.4m in the year ended 30 April 2014.
The company, which employs more than 3,660 staff across a global network of 87 offices, has now recorded four successive years of growth – boosting turnover by 51 per cent since 2011.
The company continued to invest in both its capability and reach throughout the year, opening eight new offices around the world and increasing staff numbers by 13 per cent.
Revenue jumped by nearly half (46 per cent) in the Middle East region, and by a third (33 per cent) in Asia. In the UK, still the company’s largest market, revenue grew by 11 per cent to GBP148m.
The company’s North American division grew revenue by 30 per cent to GBP56m, and it boosted its presence across the US with the opening of new offices in Phoenix, Chicago and Seattle. New offices also opened for business in Colombia, Brazil, Germany, Mozambique and Indonesia.
The company recorded robust growth across all its core sectors – property, infrastructure and natural resources. Of the three, infrastructure was the star performer – with 21 per cent annual growth propelling revenue to GBP91m.
Turner & Townsend’s chief executive Vincent Clancy says: “After four years of uninterrupted growth, Turner & Townsend continues to deliver record turnover while building further momentum towards our long-term objectives.
“We have strengthened our market-leading position across our core sectors: property, infrastructure and natural resources.
“Our property team works for some of the world’s most iconic brands, and are engaged with several of them - Chevron, Nissan and Barclays - to transform the delivery of their global property programmes.
“Our infrastructure team scored a string of successes – winning a delivery management role on Australia’s largest public transport scheme and securing a three-year contract as sole provider of commercial and controls consultancy services at London’s Heathrow Airport. Turner & Townsend is now established as a global leader in the aviation sector, and is working on five major airport programmes in the Middle East alone.
“Falling commodity prices led many of our global mining sector clients to curtail capital spending, but we responded by focusing on helping them get more value from existing operations. Coupled with strong performance in the oil and gas sector, this successful approach helped our natural resources team achieve revenue growth of nine per cent.
“It’s clear that even as the global economy returns to a more secure footing, clients remain focused on efficiency and achieving greater value. This is a great opportunity for our business, and we are confident that as we reap the rewards of our investment we will continue to build further momentum into 2015.”
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