T&T breaks £1bn revenue mark for first time

Aaron Morby 8 months ago
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Consultant Turner & Townsend has smashed the £1bn turnover mark for the first time and delivered a 36% jump in pretax profit to £155m.

Chairman Vince Glancy says 2022–2023 was an exceptional year for T&T
Chairman Vince Glancy says 2022–2023 was an exceptional year for T&T

Global net revenue rose 37% to 1.1bn as growth was delivered in all seven regions, with particularly strong workload increases in the Americas, Middle East and Asia.

In the UK, revenue jumped 26% over the past year to reach £404m, as headcount rose 17% to 4,206, largely through organic growth and joining forces with London-based cost management business Alinea.

Vincent Clancy, chairman and chief executive officer, said: “In real estate, our revenue increased by 37% as clients repositioned their global portfolios to reflect new ways of working and reduce carbon emissions.

“Elsewhere, the life sciences, data centre and advanced manufacturing markets all saw strong activity, and we saw an increase in vast new mixed-use projects.”

Clancy added: “Our infrastructure business continued to see strong demand across all our regions, driving revenue growth of 34%.

“There was a significant increase in investment in aviation, defence and environmental resilience projects.

“Challenges to global energy security, combined with the need to meet net-zero targets, have propelled investment in renewable energy.

“As a result, our natural resources business grew by 53%, and we are well-positioned to benefit from this trend in the coming year.”

Patricia Moore, managing director, UK, Turner & Townsend, said: “Last year saw fantastic growth for our UK business, and we’ve increased the size of our team to respond to clients’ needs.

“The green agenda – and the need to shore up energy security – are also seeing an increase in investment in clean energy.

“As the country heads towards a general election, we will need to see these commitments and accompanying policy to provide businesses with the confidence to invest in new technologies such as carbon capture, hydrogen and nuclear power.”

 

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