T&T profit jumps by nearly half to hit £200m

Pre-tax profit at Turner & Townsend hit the £200m mark as the firm said turnover jumped a quarter to £1.5bn in its latest results released today.

The firm, which is majority owned by US real estate giant CBRE, said its biggest business continues to be the UK with a net revenue of £483m and nearly 5,000 staff.

The Americas is its next biggest region with a net revenue of £338m and nearly 2,400 staff on its books. Overall, T&T said staff numbers were up 15% to 12,369.

The results are the first since the firm completed the purchase of London QS Alinea last spring which added more than 100 staff and around £20m in revenue to its payroll.

T&T’s pre-tax profit for the year to April was up 45% to just over £200m with operating profit up 42% to £198m.

Real estate remains the firm’s largest sector with revenue up 25% to £851m with the firm saying demand was being driven by the data centre market as well as tall buildings including the recently completed 8 Bishopsgate where T&T Alinea was cost consultant.

Its infrastructure business was up 13% to £350m with T&T saying workloads had been boosted by aviation and defence jobs.

T&T chairman and chief executive Vince Clancy, who has been at the business since 1989, said: “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.”