Turner & Townsend has reported a strong set of annual financial results across all its global regions, as the business continues to pursue its strategy for long-term growth. 

Turnover and net revenue have risen to £884m and £779m – increases of 21.5% and 17.2% respectively – while global EBITA grew to £121m. The success of the results supports the business' strategy of investment in its people, increased digitalisation, and sustainability initiatives. 

In the UK performance shows robust growth in all three key areas of real estate, infrastructure and natural resources, with overall net revenue for the UK up 17.8% in 2022 to £321.6m. The business has continued to invest in its talent pipeline and now employs 3,595 across its 16 UK offices – an increase of 23.5% on 2021. 

The post-pandemic priorities have led to major private and public investment in advanced manufacturing, new housing, logistics and infrastructure. Projects such as managing the delivery of a £450m gigafactory in Sunderland for Envision have helped the business achieve a 22.2% net revenue increase from real estate (to £163.9m), and 13.5% growth in infrastructure (to £153.3m). 

Meanwhile the ever-increasing awareness of the climate crisis, and the need for the UK to transition to sustainable resources, means that new green projects in wind, carbon capture, utilisation and storage, hydrogen and nuclear are booming.  Turner & Townsend’s net revenue in this sector is up 15.6% (to £4.4m).

Global Revenue growth has been led by the real estate sector – in which the business saw a 21% rise. This success is coming on the back of investment activity in commercial property, as well as in advanced manufacturing such as with Ford’s delivery of two new electric vehicle gigafactories in the US.  

Significant growth regions for the business include Asia, where revenue climbed by 26% over the year and where the business’ team expanded by 35.6%. Overall headcount for the global business leapt by 24.7% in the year.

The twelve month period also saw progress on Turner & Townsend’s own commitment to achieve net zero by 2030.  This year the business scored above average for professional services worldwide in an audit by the Carbon Disclosure Project.

This year has also brought new opportunities for the business as part of its strategic partnership with CBRE, which acquired a 60% majority stake of Turner & Townsend in November 2021. The firm continues to be operationally independent, with its own board, and to develop its own service offer as well as pursuing new markets. In line with the new partnership and their common goals, the two companies work together to pursue joint briefs where they can leverage the experience of both parties – including working with clients as they transition to net zero.

Vincent Clancy, chairman and CEO at Turner & Townsend said: “Global economies have emerged from the Covid-19 pandemic but still face challenges from rising inflation and disrupted supply chains, especially as a result of the ongoing conflict in Ukraine. These present day threats coincide with an urgent drive to boost economic growth, creating social value, and delivering sustainable, green investment, continue to grow louder, and it is our sector that continues to be called upon to ensure we deliver on these needs. 

“This strong set of results is a testament to the wealth of talent, vision, and creativity in our team to drive the positive change we need to meet these challenges in every country and community we operate in. We will continue to enable and deliver real innovation – pursuing our purpose to transform performance for a green, inclusive and productive world.”

Click here to view Turner & Townsend’s full company results for 2021-22.