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Profits up at Turner & Townsend

NCE stock business

Turner & Townsend has produced a strong set of financial results for the 2016 financial year.

Overall turnover went up to £491M, compared to £409M in 2015. Within the infrastructure business net revenue was up from £123M in 2015 to £155M.

UK and Ireland posted revenue of £212.5M, up 18.3% on 2015.

The UK and Ireland managing director Jon White said: “Our infrastructure business grew steadily as the government sanctioned major client schemes including High Speed 2, Hinkley Point C, Heathrow Airport expansion and the Highways England programme.”

Chief executive Vincent Clancy added: “These results are all the more remarkable given the volatility in many markets and sectors. Uncertainty remains with notable consequences. In real estate most corporates are driving for cost reduction and consolidation; in infrastructure capacity and affordability are restraints; while in natural resources capital expenditure is under the closest scrutiny as companies align their operations with new price points. Reduced revenues in natural resources have also impacted on activity in several countries, particularly emerging markets.

“While we expect further volatility in the year ahead, we remain confident we will maximise the opportunities available to us.”

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