The global professional services consultancy Turner & Townsend aims to drive growth in China and maintain the pace of progress in India and South East Asia after recording a turnover of £25.5 million in the year ended 30 April 2016.
The company’s performance in Asia, however, has been impacted by the depressed Chinese economy and low oil prices, which has resulted in some project cancellations across the region.
Duncan Stone, Asia Managing Director for Turner & Townsend, commented: “Despite the falls in oil prices, the performance in India and South East Asia was positive, with a strong result from Malaysia on the back of high levels of activity in real estate. Overall revenue in the region reached £25.5m.
“We had a number of high-profile wins in infrastructure and in renewable energy in South East Asia. The technology sector continued to grow for our real estate business, with further activity in hi-tech and manufacturing. We worked with international brands including Lenovo, who have expanded their research and development capability.
“In the year ahead we will drive growth in China, keep up the pace of progress in India and South East Asia and capitalise on the strong opportunities in airports and rail.”
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 £30m has almost tripled in five years.
Vincent Clancy, Chief Executive Officer for Turner & Townsend added: “Our achievements are a testament to the strength of the 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 continues 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.”
