T&T resilient as revenue hits record £681m

Aaron Morby 4 years ago
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Consultant Turner & Townsend has booked another record year despite being impacted by the coronavirus pandemic in its final quarter.

Vincent Clancy Chairman of Turner & Townsend, is optimistic about prospects
Vincent Clancy Chairman of Turner & Townsend, is optimistic about prospects

Overall 2019–2020 was a strong year for our business. Turnover increased by 17% to £681m and operating profit grew from £68m to £88m.

The UK helped by big infrastructure raised revenue by 9% to 283m, with the revenue split evenly between building and infrastructure projects.

The UK now employs 3,000 of the 6,789 worldwide headcount.

Trading in the real estate sector was particularly strong from the high-tech and life sciences sectors.

In the UK profits jumped from £29m to £36m in the year to April.

This performance was supported by major infrastructure programmes including the Environment Agency’s national flood risk management programme and in rail where T&T oversaw the set-up of High Speed 2’s programme controls and commercial capability, which enabled the project to obtain government approval to proceed into delivery.

Outside of the UK, the infrastructure business saw strong revenue growth in Asia, Australia, the Middle East and North America.

Vincent Clancy, chairman and CEO at Turner & Townsend said: “While we continue, like the rest of the industry, to feel the impact of Covid-19, our financial performance and business model stand us in good stead to withstand the economic aftershocks.

“Resilience has been the hallmark of our business over the last 74 years and this, combined with the solid platform we have created, makes me confident that we will emerge even stronger.

“As we transition from a health crisis to meet a growing economic challenge, the world needs to embrace a zero-carbon future, to transform cities and to create better living standards.

“Our industry is fundamental to solving the social and economic inequalities highlighted by the Covid-19 crisis, but in the past has too often been part of the problem. We now have an exciting opportunity to drive change and to build back better.”

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