Leeds-based global professional services business Turner & Townsend records large rise in turnover

Global turnover for the company has increased by 21.5 per cent, while global net revenue has increased by 17.2 per cent, and EBITA rose by 5.8 per cent to £121m.

The company’s total number of global employees has also increased by 24.7 per cent, reaching a total of 8,481.

Vincent Clancy, chairman and CEO at Turner & Townsend, noted the figures show a positive response from the company to challenges faced by global economies, including rising inflation and disrupted supply chains due to the conflict in Ukraine.

“This strong set of results is a testament to the wealth of talent, vision, and creativity in our team to drive the positive change we need to meet these challenges in every country and community we operate in. We will continue to enable and deliver real innovation – pursuing our purpose to transform performance for a green, inclusive and productive world.” said Clancy.

“These present-day threats coincide with an urgent drive to boost economic growth, creating social value, and delivering sustainable, green investment, continue to grow louder, and it is our sector that continues to be called upon to ensure we deliver on these needs.”

Global revenue growth for the company was led by the real estate sector, which saw a 21 per cent rise.

This success was in part brought on by investment in commercial property, as well as in advanced manufacturing such as with Ford’s delivery of two new electric vehicle gigafactories in North America, and work with smart electric vehicle company NIO, in China.

The company noted an increased demand across net zero and the life sciences, as well as data center and the advanced manufacturing space.

Turner & Townsend also saw a rise of 15.6 per cent in net revenue in the sustainable resources sector, reaching a total £4.4m this financial year.

In the UK, the company showed growth in all three key areas of real estate, infrastructure and natural resources, with overall net revenue for the UK up 17.8 per cent in 2022 to £321.6m.

The business also saw an increase in its number of staff employed across the UK, which grew to 3,595 across its 16 UK offices, an increase of 23.5 per cent on 2021.

Projects such as managing the delivery of a £450m gigafactory in Sunderland for Envision also helped the business achieve a 22.2 percent net revenue increase from real estate (to £163.9m), and 13.5 percent growth in infrastructure (to £153.3m).

Significant growth regions for the business also include Asia, where revenue climbed by 26 per cent over the year and where the business’ team expanded by 35.6 per cent.

Turner & Townsend was founded in 1946 as a single quantity surveying partnership, and have since grown into a global company with 112 offices around the world.

In November, 2021, commercial real estate company CBRE acquired a 60 per cent majority stake of the company.

While Turner & Townsend continue to be operationally independent, the two companies have formed a strategic partnership in which they hope to achieve their common goals, including working with clients as they transition to net zero.