Growth comes on the back of the company’s partial takeover by US firm CBRE during the year.
Horsforth-based Turner & Townsend’s results for the year to 30th April show that turnover reached £884m while net revenue was up 17% at £779m.
Pre-tax profit (before interest and amortisation) increased 6% from £114m in FY2021 to £121m this time.
Global staff headcount expanded by 25% to 8,481, with notable growth in Asia (up 36%) and in the UK (up 23%). Turner & Townsend now employs 3,595 people across its 16 UK offices.
The UK business showed growth in all three core business areas of real estate, infrastructure and natural resources, with overall net revenue for the UK up 18% percent in FY 2022 to £321.6m.
Projects such as managing the delivery of a £450m gigafactory in Sunderland for Envision have helped the business achieve a 22% net revenue increase from real estate (to £163.9m), and 13.% growth in infrastructure (to £153.3m). Revenue from the energy sector was up 16% to £4.4m.
Globally, revenue growth was led by the real estate sector, in which the business saw a 21% rise on the back of investment activity in commercial property, as well as in advanced manufacturing. Projects include two new electric vehicle gigafactories for the Ford Motor Company in the USA.
In November 2021 CBRE completed the purchase of a 60% stake in Turner & Townsend for £960m, valuing Turner & Townsend at £1.6bn.
Vincent Clancy, chairman and chief executive of Turner & Townsend, said: “Global economies have emerged from the covid-19 pandemic but still face challenges from rising inflation and disrupted supply chains, especially as a result of the ongoing conflict in Ukraine. These present day threats coincide with an urgent drive to boost economic growth, creating social value, and delivering sustainable, green investment, continue to grow louder, and it is our sector that continues to be called upon to ensure we deliver on these needs.
“This strong set of results is a testament to the wealth of talent, vision, and creativity in our team to drive the positive change we need to meet these challenges in every country and community we operate in. We will continue
| Turner & Townsend | Year to 30 Apr 22 | Year to 30 Apr 21 | Change |
|---|---|---|---|
| Global turnover | £884m | £727m | 21.5% |
| Global net revenue | £779m | £665m | 17.2% |
| Global EBITA | £121m | £114m | 5.8% |
| Global employees | 8,481 | 6,801 | 24.7% |
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