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Mon June 21 2021

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Profits in CIS soar for Turner & Townsend

9 Sep 13 Turner & Townsend’s pre-tax profits from across the CIS have risen 30% to exceed €1m (£843,000).

In particular, the company sees Russia as a key growth market and recently opened its second office there, in St Petersburg. Wins have included a contract for commercial management to help deliver Russia’s largest-ever residential construction project in the city – a €11.6bn development for SPb Renovation.

Across Europe and the UK as a whole, Turner & Townsend grew turnover to €216m and global turnover reached €390m. Operating profit margin rose from 9.7% to 10.5%.

Turner & Townsend CIS managing director Paul Grace said: “We have made great strides in both Russia and the Commonwealth of Independent States (CIS) over recent years. We continue to support our global and local key clients from our hub office in Moscow. Our teams in Russia and Kazakhstan successfully combine global expertise with local industry knowledge to consistently deliver an exceptional quality of service in the region.

“To have increased both profits and revenue in these tough conditions is a real achievement, and a just reward for the CIS teams’ hard work.”

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