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Tue August 20 2019

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Record year for Turner & Townsend

23 Jul Construction consultant Turner & Townsend has reported strong growth in profits and turnover, taking the company to new heights.

Chairman and chief executive Vincent Clancy
Chairman and chief executive Vincent Clancy

For the year ending 30 April 2019, Turner & Townsend saw pre-tax profit rise 23% to £67.4m (2018: £54.7m) on turnover up 17% to £640m.

Net revenue climbed by £79m to £580m, with more than half – £259m – coming from the UK. The Americas was the largest export market, bringing in £125m.

In the past financial year, Turner & Townsend increased its headcount by 17% and now employs more than 6,100 people in 110 offices across 45 countries.

Key UK growth areas for the firm have included regional infrastructure aligned to major programmes by Highways England, Heathrow and HS2, as well as accelerating real estate investment by government and within the high-tech and manufacturing sectors. 

Chairman and chief executive Vincent Clancy said: “The delivery of another year of exceptional financial results is an impressive achievement in the face of some turbulent global markets. Our continued growth is testament to the strength of our diversified global business model, and our investment in people and services, particularly our programme advisory and asset management capability. We also initiated our largest-ever investment in digital services, putting data at the heart of what we do. 

“The outlook for our industry is one of huge change and accelerated investment, as it responds to the shift towards a low carbon economy, demand for smart cities, growing populations and strains on existing infrastructure.  I believe we are well placed to be at the forefront of the solutions to these challenges, embracing new technologies and delivering better performance for major programmes and assets over their lifecycles.”

At a glance – Turner & Townsend financial results for 2019

  Year ended 30 Apr 2019 Year ended 30 Apr 2018 Change
Global turnover £640m £549m +17%
Global net revenue £580m £501m +16%
Global operating profit £68m £56m +22%
Global employees 6,105 5,209 +17%
UK turnover £259m £238m +9%
UK operating profit £29m £27m +7%

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