International contracts boost consultant's first results as plc

Consultant Turner & Townsend has reported a profit rise of 29% and a record order book in its first results since becoming a public company.

The firm said it had seen pre-tax profit rise to £17.1m, from £13.3m in 2007.

In its full-year results, revenue was up 20% on last year to £179m and growth was seen in all seven operating regions, it said. Outside of the UK, net revenue growth was 27%.

Turner & Townsend said operating cash flow was up 51% to £18.7m and its EBITA margin had grown to 9.5%.

The firm, which changed to plc status in April, said its order book was up 18.6% to £357m, with major appointments in the last quarter including the Shard of Glass and the Beijing Great Wheel.

Tim Wray

Turner & Townsend chairman Tim Wray said: “Our expanding international presence, our long term contracts, breadth and quality of service, as well as our diverse client base, means that Turner & Townsend is strongly positioned for further growth.”

The company postponed plans to list on the stock market in February but has said it still intends to float.