9:30AM Consultancy reveals £16m profit due to global growth

Turner & Townsend’s turnover has jumped 34% to £134m for 2005. The firm’s profit for the year was £15.7m. The previous year T&T made £10.6m profit on a £100m turnover.

Chairman Tim Wray put the strong performance down to growth in all geographical regions, particularly the US and Australia. Wray has pioneered the firm’s global expansion since taking over the chairman’s job from Jeff Smith in 1999.

He said: “We were expecting growth of 20% to 25% but this is phenomenal. We have had a lot of international growth but the UK has also been tremendous.”

T&T has won a number of high profile contracts recently, including the programme management role on the €1.2bn (£800m) project to expand Dublin airport and a strategic role advising the UK’s Olympic Delivery Authority. This month its Australian arm Turner & Townsend Rawlinsons won the QS role on the construction of a new HQ in Adelaide for oil giant Santos. The scheme include 15,500m² of commercial office space.

The firm employs around 1,750 staff worldwide. T&T became an LLP in May 2005.

Source

QS News