Firm says infrastructure performance offsets uncertainty following EU referendum
Turner & Townsend has shrugged off Brexit worries to post double digit rises in turnover and earnings.
The consultant said revenue in the year to April 30 was up by a fifth to 拢491m, with Ebitda up 20% at 拢47m 鈥� although it has yet to publish a figure for pre-tax profits.
T&T chairman and chief executive Vincent Clancy (pictured) said the figures were 鈥渞esilient in the face of some pretty volatile market conditions鈥�.
He added: 鈥淭hese are a very strong set of results and we鈥檙e pleased to have maintained our trading record.鈥�
Clancy said the firm鈥檚 infrastructure and real estate business was growing 鈥� with UK revenue up 18.3% to 拢212.5m, a record for the group.
Brexit continues to cause uncertainty, with Clancy admitting that corporate clients were 鈥渘ervous鈥� and looking for 鈥渃larity鈥� about the future.
But he added: 鈥淭he good news for us is that infrastructure spending is up, with the government鈥檚 tone improving around this area with spending growth likely to continue.鈥�
Off-site manufacturing was an area of growing interest, Clancy said. 鈥淭he construction sector is one of the last bastions of the traditional way of doing things but it is waking up to digital technology, and things such as BIM and we want to be part of that revolution.鈥�
Looking ahead Clancy said he did not expect the firm to post a 20% rise in turnover every year but reckoned on 2017 providing more double digit growth
He added: 鈥淚t鈥檚 dependent on the markets we鈥檙e in. There is uncertainty, but we鈥檙e planning for growth and we鈥檝e had a good start to the first quarter.鈥�
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