T&T profits hike
- Published: 22 July 2008 09:17
- Author: David Rogers
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- Last Updated: 22 July 2008 09:27
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Shard of Glass project manager Turner & Townsend saw pre-tax profits climb by nearly one third last year.
Earlier this year, the company had to put on hold plans to float on the London Stock Exchange because of volatile market conditions.
The company is still pushing ahead with its plant to float, which it hopes will value it at £200 million, and recently recruited Gordon Horsfield as its first non-executive director. Mr Horsfield helped power station firm Drax Group list in 2005.
In its latest set of results, the firm saw profits jump 29 per cent to £17.1 million on revenue up 22.5 per cent to £212 million.
T&T opened eight new offices across the globe including sites in Abu Dhabi, Mumbai, India, and San Francisco. Staff numbers increased 17.5 per cent to 2,400 with its forward order book standing at a record level of £157 million.
T&T operates across seven regions and executive chairman Tim Wray said: "All seven and the specialist sectors in which we operate are extremely active with order books at record levels.
"Whilst world economic indicators appear more challenging today, we are confident that we will achieve further growth in 2008/2009."
