Booming demand for infrastructure to support mining projects around the world has helped cost consultant Turner and Townsend achieve double digit growth last year.
Results for the year ended 30 April show revenue up 20% to £244M and pretax profits up 46% to £23M, with the huge largely driven by a surge in demand from its clients in the mining sector.
Revenues in mining were up 97% from £11.6M to £22.8M, with one third of the consultants’ revenue now coming from the natural resources sector.
“The natural resources sector has seen large growth,” said chief executive Vince Clancy, adding that this growth is being driven by increasingly complex projects that are demanding better project management.
“The projects are larger in value than ever before,” he said. “The sheer scale of the projects means managing the supply chain, managing the logistics and managing the programme is more complex and there is more risk to manage.
Turner and Townsend has picked up work with many of the largest mining firms worldwide including Anglo American, BHP Billiton, Chevron, Inpex and Rio Tinto.