Turner & Townsend has seen turnover and profits soar following an “excellent year of growth”.

Publishing its annual review for the year ending April 2024, the global professional services business said turnover had risen 25% to £1.5bn with pre-tax profits up 45% to £220.3m

Increased investment in high-growth markets such as advanced manufacturing, data centres, life sciences, aviation and defence has led to growth across all Turner & Townsend’s regions and business areas.

Global headcount has increased by 15% to more than 12,300.

Net revenue in the UK, where Turner & Townsend is headquartered, rose by 20% over the year to reach £483m.

The growth reflects a greater call for expertise across complex programmes, and success right across the business’ diverse areas of work.

The 2023-24 period is also the first full year of trading since Turner & Townsend announced its merger with London-based cost management business alinea, further bolstering its offering to clients across key growth sectors such as tall buildings and life sciences.

The results follow the announcement in July that CBRE’s global project management arm plans to combine with Turner & Townsend, to create a programme, project and cost management offer which will have more than 20,000 employees in over 60 countries.

The deal builds on the success of the strategic partnership established with CBRE in 2021 and is expected to complete around calendar year-end.

Real estate remains the largest area of Turner & Townsend’s business operations worldwide and grew 25% over the past year to £851m, fuelled by demand in specialist markets including data centre development, and demand for tall buildings such as London’s 50-storey 8 Bishopsgate, which completed in summer 2023.

Infrastructure work internationally at Turner & Townsend has grown by 13% to £350m, with notable expansion in aviation mass transit and defence.

A global push to meet net zero targets and strengthen energy security has continued to drive strong investment in renewable energy, helping Turner & Townsend’s energy and natural resources work grow by 24% to £95m.

The year saw increased activity across all global regions, with the most significant growth in the Americas and Europe where net revenue increased by 31% and 30% respectively.

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.

“Going forward we will have more strength than ever before to make a positive impact for the future – investing in our proposition, technology platforms and talent that our clients around the world can trust and rely on.”

Patricia Moore, managing director, UK, at Turner & Townsend, added: “This has been another excellent year of growth for our UK business.

“Our strong performance across all sectors is a testament to the diverse talent and expertise we bring to a wide range of industries.

“This is particularly important during a time of changing priorities from a new government. We are well-positioned to support the expansion in clean energy and natural resources, as well as the growth in key sectors central to the UK’s economic ambitions, such as data centres, life sciences, and advanced manufacturing.”