T&T pays out another £70m in dividends as firm turns in more bumper results

Turner & Townsend paid out more than £70m in dividends in the final eight months of last year as the firm continued to see turnover and profit head upwards.

The firm, which is majority owned by US real estate giant CBRE, said revenue in the eight months to December was £1.1bn with pre-tax profit standing at £141m.

Accounts filed for Turner & Townsend Holdings show that it paid £70.4m in dividends to the owners of the group compared to £119m for the year to April 2024.

The firm has changed its year-end reporting period from April to December with like-for-like comparisons made on a monthly basis.

In the year to April 2024, the firm posted an income of £1.5bn with pre-tax profit of £200m.

The latest figures, which were signed off by chief executive Vince Clancy in August, show that its monthly income for the eight months to December 2024 was up to £137.5m, from £125m for the year to April 2024. Monthly pre-tax profit during the period rose from £16.6m for the year to April 2024 to £17.6m in the eight months to December.

In a note accompanying the accounts, T&T said: “At the regional level, on a like for like basis revenue growth was achieved in all of our seven regions. This strong performance delivered across global markets is a result of us investing in the right things: our people, the community, and the services we deliver for clients. In the real estate and infrastructure segments, our ability to manage complex portfolios and to enhance the performance of major programmes remains robust.”

T&T said it has 136 offices around the world with the number of staff during the eight months of last year increasing 10% to 13,600.

It said that during the period it had net assets of £318m, compared to the £291m for the year to April 2024.