Turner & Townsend earns profit rise

28/07/2010

Leeds-based consultancy group Turner & Townsend took an increase of 16% in pre-tax profits, taking its earnings to £18m.
The firm which manages Europe's proposed tallest building The Shard at London Bridge, said its international business growth of 42% of revenue in the year to the end of April, from 40% a year earlier, helped secure the rise in profits.
While the group's revenues fell around 9% to £192m, its operations in Australia, the Americas, Africa and Asia all witnessed growth in sales.
After opening sites in Vietnam, Canada, Kazakhstan, Chile, South Korea and New York, the company which now has 63 offices worldwide and a global workforce of about 2,200, and plans to accelerate global growth over the next year.
Executive chairman Tim Wray said the target is to grow international revenues to 60% of total revenues.
Mr Wray, who moves to a non-executive role next year after 40 years with the business, added that UK work had been hit by project cancellations, with the coalition Government axing the £464m North Tees hospital and several new schools projects.
The company employs 209 staff in Yorkshire, most of them working at its Leeds head office.
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