Revenue tops £1.5bn at CBRE-owned Turner & Townsend
Turner & Townsend has reported a 25% increase in turnover to £1.5bn for the 12 months ended 30 April, with net revenue up by 22% to £1.3bn.
Net revenue in the UK, where Turner & Townsend is headquartered, rose by 20% over the year to reach £483m.
The group said the growth reflected a greater call for expertise across complex programmes and success right across the business’s diverse areas of work.
Turner & Townsend has reported a 25% increase in turnover to £1.5bn for the 12 months ended 30 April, with net revenue up by 22% to £1.3bn.
Net revenue in the UK, where Turner & Townsend is headquartered, rose by 20% over the year to reach £483m.
The group said the growth reflected a greater call for expertise across complex programmes and success right across the business’s diverse areas of work.
The year under review is also the first full year of trading since Turner & Townsend merged with London-based cost management business Alinea and follows the announcement last month that CBRE was upping its ownership of the business and transferring its project management division to Turner & Townsend.
Real estate, which is the largest area of Turner & Townsend’s business operations worldwide, grew by 25% over the year to £851m.
The growth was led by demand in specialist markets including data centre development and for tall buildings such as London’s 50-storey 8 Bishopsgate, which completed in summer 2023.
Vincent Clancy, chairman and chief executive at Turner & Townsend, said: “In the face of an ever more complex and connected world, success in our industry will be built on businesses’ ability to evolve and reinvent themselves to deliver impactful solutions for clients.
“These excellent figures demonstrate our ability to build strong client partnerships while investing in our people and our global capacity. Our scale and reach make us more resilient to market volatility and, crucially, ensure that we are best placed to anticipate and adapt to clients’ priorities and needs, offering solutions to their challenges wherever they are in the world.”
He added: “We have created an unrivalled programme, project and cost management capability globally, and our recent acquisitions, as well as the plan to combine CBRE’s project management with Turner & Townsend, only enhances the specialist skills and creative solutions our business can offer.
“Going forward we will have more strength than ever before to make a positive impact for the future – investing in our proposition, technology platforms and talent that our clients around the world can trust and rely on.”
