Turner & Townsend grows global turnover to £409m

Global professional services consultancy Turner & Townsend has defied challenging market conditions to increase its turnover by eight percent to £409m in the year ended 30 April 2016.

In its annual results announced today, the company saw its profits climbing 9% to £30m in 2015-2016. Interestingly, the firm has also recorded impressive revenue growth in real estate and infrastructure, particularly in the Middle East, Australia and New Zealand, with both markets growing by 24%.

Turner & Townsend, which employs nearly 4,300 staff across 97 offices worldwide, has now notched up six consecutive years of revenue growth and profits after tax have almost tripled in five years.

The firm attributes its success to a flexible and resilient long-term strategy. Turner & Townsend’s diverse activity is spread across three core sectors - real estate, infrastructure and natural resources - and 41 global markets. The firm says that this flexible approach has helped it absorb market shocks and continue to thrive. For example, the company’s Middle East operation balanced last year’s abrupt fall in oil prices through increased real estate and infrastructure work, successfully growing total revenue by 24%.

Annual revenue rose by a quarter in the company’s Australia and New Zealand operation, 9% in Europe and 14% in the UK and Ireland, where turnover reached a record £180m. Revenue also grew in Africa and Latin America. 

Across its sectors, the company recorded strong growth in global real estate revenue (up 15% to £196m) and infrastructure (up 16% to £123m), which more than offset the impact on revenue from challenging conditions seen in the natural resources sector.

Vincent Clancy, Turner & Townsend chief executive, commented:  “Our achievements are a testament to the strength of our business, despite a backdrop of significant volatility...our diversified business model continued to serve us well – giving us the flexibility to adapt to changes in individual markets.

“We’ve grown our global footprint, supporting our key regional hubs and strengthening our operations around the world to better serve our clients wherever and whenever they need us. Through our partnership, we’ve continued to invest in our people by giving a pathway for our most talented employees to become partners – with a say in how the business is run and a share in our success.

“With the UK set to leave the EU and volatility in other global markets, these are changing times for our industry. However, 70 years on from our formation, I am confident our strong business model and investment in our capability will continue to see us on the right path to deliver long-term sustainable growth.”

The firm says that a series of high-profile project wins has underpinned their success, including commissions to support the delivery of world-class airports in Houston and Dallas, the UK’s High Speed 2 rail line and Australia’s largest-ever hotel and residential complex, The Jewel. 

The consultancy continued to invest in both its capability and reach throughout the year, increasing staff numbers by four percent and strengthening its operations in Auckland, Cambridge, Fort Worth Istanbul, Mexico City, Miami, Nairobi and Orlando.

Turner & Townsend also became a partnership business, reinforcing its independence and differentiating itself from its competition. Given the results announced today, it appears that the company’s new structure is already bearing fruit.

Click here to download Turner & Townsend’s full 2015-16 results.

If you would like to contact Andy Walker about this, or any other story, please email