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Wed 27 Jul 2016 01:40 PM

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Global consultancy posts big rise in MidEast turnover, profits

Turner & Townsend also announces plan to open Saudi office in bid to further build on regional performance

Global consultancy posts big rise in MidEast turnover, profits
GCC construction, Middle East construction

Global professional services consultancy Turner & Townsend has announced that it has increased its Middle East turnover by a quarter, and its profits by nearly a third, in the past year.

The company’s strong performance in the Middle East – which saw regional turnover grow by 24 percent to £32.2 million ($42.1 million) and operating profit climb 32 percent to £5.1 million – helped drive its global revenue to a record £409 million.

The company also announced plans to open an office in Saudi Arabia as it looks to build regional revenues further this year.

Mike Collings, Turner & Townsend Middle East managing director, 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."

Turner & Townsend employs nearly 4,300 staff across 97 offices worldwide, and has now recorded six successive years of growth.

The firm is an independent professional services company specialising in programme management, project management, cost management and consulting across the real estate, infrastructure and natural resources sectors.

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