Turner & Townsend revenue tops £1bn for first time

Turner & Townsend
Projects such as Hong Kong’s Mass Transit Railway contributed to net revenue increases of over 40% in Asia (Image courtesy of Turner & Townsend)

UK-headquartered construction consultant Turner & Townsend says its turnover hit £1.2bn in the year to 30 April 2023, exceeding the £1bn mark for the first time.

It said the 38.6% increase on the previous year came as regions around the world invest heavily in transport, utilities, and decarbonisation schemes.

Real estate net revenue climbed 36.6%, it said, as “global corporates continue to invest in adapting commercial property portfolios to meet environmental targets and accommodate hybrid working”. 

Net infrastructure revenue rose by 34.3%.

The race to build battery and chip factories also buoyed earnings.

Topping regional hotspots are the Americas, where net revenue rose 58.5% and headcount grew 53%.

In the Middle East and Asia, the company saw net revenue increases of over 40%, boosted by investment in infrastructure and renewable energy.

Australia and New Zealand saw a 34.9% net revenue rise, and a 36% increase in headcount.

In Europe, net revenue rose by 32.2%, helped by the acquisition of asset management consultancy IES in the Netherlands.

In Africa, net revenue grew by 16.6% on projects in mining, data centres, renewables, and life sciences.

By sector, work in the natural resources market grew by 52.8%, the highest rise among the company’s three main segments.

Acquisitions contributed to the growth. These included public sector project management firm Heery in the US, Australian natural resources specialist Jukes Todd, and Canada’s Cavalieri Associates.

Overall headcount for the global business rose by 26.5% in the year.

Chairman and chief executive Vincent Clancy said: “This is a milestone moment for the business, and an exceptional set of results, particularly in the face of the continued global economic headwinds.”

Story for GCR? Get in touch via email: [email protected]

Latest articles in Companies