Turner & Townsend posted an “exceptional year” for the business delivering with an almost 25 per cent jump in turnover and 22 per cent increase in net revenue.
Overall turnover and net revenue for the year ended 30 April 2024 rose to £1.5 billion and £1.3 billion (US$1.6 billion) respectively, while global EBITA grew by 21 percent to £192 million.
Free cash flow for the year grew to of £120.4 million (2022: £27.5 million), with cash generation of 112 per cent (2022: 63 per cent)
The consultancy reported double-digit growth across real estate, infrastructure and energy and natural resources in its 2023-24 annual review.
Real estate grew by 25 percent to £851 million, as Infrastructure work grew 13 per cent to £350 million, in part due to projects such a Manchester Airport in the UK.
The results follow the announcement in July that CBRE‘s global project management arm plans to combine with Turner & Townsend, with more than 20,000 employees across 60 countries whil expanding its offering in the UK.
Vincent Clancy, chairman and CEO at Turner & Townsend, said: “In the face of an ever more complex and connected world, success in our industry will be built on businesses’ ability to evolve and reinvent themselves to deliver impactful solutions for clients.
“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, offering solutions to their challenges wherever they are in the world.”
“We’ve created an unrivalled programme, project and cost management capability globally, and our recent acquisitions, as well as the plan to combine CBRE’s project management with Turner & Townsend, only enhances the specialist skills and creative solutions our business can offer.”
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