'Prompt action' to cut payroll maintains T&T's profit

Turner & Townsend has said “prompt action” to cut its cost base has maintained its pre-tax profit.

In its half-year results to 31 October 2009, the firm announced a profit of £10.2m, the same as the equivalent period the previous year, despite a 8.5% fall in turnover from £105.6m to £96.6m.

The company has cut at total of 90 staff, which was equivalent to 7% of its UK workforce.

A statement said: “Although some reduction in staffing has been necessary, we are pleased that T&T has not been forced to make large-scale redundancies, and has not needed to implement the flexible working arrangement that our staff signed up to earlier in the year.”