Consultant Turner & Townsend delivered a record year with pre-tax profit jumping 45% to £200m,
Global net revenue rose a fifth to £1.3bn as growth was delivered in all seven regions, with particularly strong workload increases in the Americas, Middle East and Asia.
The year ending April 2024 marked the the first full year of trading since T&T merged with London-based cost management business alinea, further bolstering its client offer across key growth sectors such as tall buildings and life sciences.
Net revenue in the UK rose by 20% over the year to reach £483m.
Real estate remains the largest area of T&T’s business operations worldwide.
This segment grew 25% over the past year to £851m, fuelled by data centre development, and demand for tall buildings such as London’s 50-storey 8 Bishopsgate.
As global regions reshore and strengthen their industrial capacity, there has been an increase in advanced manufacturing and life sciences investment, including multi-billion pound battery programmes underway across the world.
Infrastructure work internationally grew by 13% to £350m, with notable expansion in aviation mass transit and defence.
A global push to meet net-zero targets and strengthen energy security continued to drive strong investment in renewable energy, helping Turner & Townsend’s energy and natural resources work grow by 24% to £95m.
Vincent Clancy, Chairman and CEO, said: “In the face of an ever more complex and connected world, success in our industry will be built on businesses’ ability to evolve and reinvent themselves to deliver impactful solutions for clients.
“We’ve created an unrivalled programme, project and cost management capability globally, and our recent acquisitions, as well as the plan to combine CBRE’s project management with Turner & Townsend, only enhances the specialist skills and creative solutions our business can offer.
Going forward we will have more strength than ever before to make a positive impact for the future – investing in our proposition, technology platforms and talent that our clients around the world can trust and rely on.”
