Turner and Townsend records Middle East growth
Turner & Townsend reported a 24% increase in Middle East turnover to to £32.2m ($41.9m) for the year end to April 2016
UK-based construction consultancy Turner & Townsend reported a 24% increase in Middle East turnover to $41.9m for the year end to April 2016.
Operating profit for the region climbed 32% to $6.6m, while global turnover for Turner & Townsend rose from $497.5m to $535.5m.
Turner & Townsend Middle East managing director, Mike Collings, said: “Despite the abrupt fall in oil prices, this has been a very strong year for our Middle East operation. We saw significant growth in real estate and built momentum in infrastructure, with clients still demonstrating the desire to invest in the region despite the low price of oil.
“We built on our reputation for our full breadth of services this year, securing major real estate commissions and significant new wins with Unilever, Galeries Lafayette, and the passenger terminal extension at Al Maktoum International Airport.
“Our aim in the year ahead is to increase our footprint with new offices in Saudi Arabia and continue to exceed our clients’ expectations as they invest in the region.”
Turner & Townsend employs nearly 4,300 staff across 97 offices worldwide, and has now recorded six successive years of growth. Its profit after tax of $39.2m has almost tripled in five years.
Vincent Clancy, CEO for Turner & Townsend, said: “Our achievements are a testament to the strength of our business, despite a backdrop of significant volatility. The past year has seen us become the partner of choice for many of the world’s largest capital programmes and our diversified business model continued to serve us well, giving us the flexibility to adapt to changes in individual markets.
“We’ve grown our global footprint, supporting our key regional hubs and strengthening our operations around the world, to better serve our clients wherever and whenever they need us.”