Vincent Clancy
Consultant Turner & Townsend has hailed a record year after it grew its net revenue 15.8% to £580.1m in 2018/19 (up from £501.1m).
Earnings before interest, interest, depreciation and amortisation (EBITDA) rose to £67.9m, compared to £55.5m for the prior year. EBITDA margin was 11.7%, up from 11.1% in 2017/2018.
It was Turner & Townsend’s ninth year of growth, which it attributed to a diverse business model and investment in its people.
The company’s ranks have swelled by 17% and it now employs 6,100 people in 11 offices across 45 countries.
Turner & Townsend derived 58.7% of its net revenue from the real estate market, with another 30.7% coming from infrastructure and 10.6% from natural resources.
The America’s was the company’s largest market outside the UK, with net revenue of £124.7m and £259.3m respectively. The Middle East was the next largest where it generated £49.5m in net revenue, followed by Europe which accounted for £38.3m.
Vincent Clancy, chairman and CEO said: “The delivery of another year of exceptional financial results is an impressive achievement in the face of some turbulent global markets.
“Our continued growth is testament to the strength of our diversified global business model, and our investment in people and services, particularly our programme advisory and asset management capability. We also initiated our largest-ever investment in digital services, putting data at the heart of what we do.
“The outlook for our industry is one of huge change and accelerated investment, as it responds to the shift towards a low carbon economy, demand for smart cities, growing populations and strains on existing infrastructure. I believe we are well placed to be at the forefront of the solutions to these challenges, embracing new technologies and delivering better performance for major programmes and assets over their lifecycles.”
