Investing in green infrastructure helps boost Turner & Townsend revenue

Consulting firm Turner & Townsend is reaping the rewards of increased investment in green infrastructure in the UK, as its revenues in this sector have increased by 15.6% according to its latest financial results.

“The growing awareness of the climate crisis and the need for the UK to switch to sustainable resources means that new green projects in the areas of wind, carbon capture, use and storage , hydrogen and nuclear are booming,” the company said in its financial statements. released its results for the year ending April 30, 2022, released yesterday.

Turnover for its division which focuses on such projects was £4.4m for its last full financial year.

Seeing the market’s efforts to reach net zero, the company invested in the area of ​​sustainability. Last month, it launched a bespoke carbon accounting tool that allows clients to assess the carbon footprint of projects throughout the full process cycle.

The aspiration to further develop this part of the business was the reason for the appointment of James Hardy as head of its UK consultancy team, which will support the expansion of the sustainability team. Hardy was previously head of climate change and energy at the Greater London Authority.

The rest of the business saw good growth over the same period, with the company’s total UK revenue of £321.6 million, marking a 17.8% increase from one year to the next. Its property division generated £163.9m, up 22.2% year-on-year, while revenue from the infrastructure division rose 13.5% to 153.3 million pounds.

Turner & Townsend attributed the growth of these two divisions to “post-pandemic priorities that have led to significant private and public investment in advanced manufacturing, new housing, logistics and infrastructure.”

Recent infrastructure-related contracts the company has won include one to develop the business case for West Yorkshire’s public transport network and another to provide project control services for the scheme. Network Rail Crewe.

Turner & Townsend Chairman and Chief Executive Vincent Clancy said: “Global economies have emerged from the Covid-19 pandemic but still face challenges from rising inflation and disruption. supply chains, especially given the ongoing conflict in Ukraine. These current threats coincide with an urgent desire to drive economic growth, create social value and provide sustainable and green investments, continue to grow and it is our sector that continues to be called upon to meet these needs.

“This set of strong results is a testament to the wealth of talent, vision and creativity of our team to drive the positive change we need to address these challenges in every country and community in which we operate. We will continue to enable and deliver real innovation – pursuing our goal of transforming performance for a green, inclusive and productive world.

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