Beating tough market conditions to grow Latin America turnover and profit
Our strong performance in Latin America – which saw regional revenue grow to £9.4m and operating profit climb 28 percent to £1.4m – helped drive our global revenue to a record £409m.
- Our Latin America revenue increased by 6.3 percent to £9.4m in 2015-2016 with profits up by 28.4 percent in same period
- We worked in ten Latin American countries during the year supporting clients on their investments in region
- Global turnover reached £409m, with profit after tax almost tripling in just five years
Rob Edwards, Latin America Managing Director commented: “Our Latin America business experienced another exceptional year, with strong revenue and profit growth despite the economic and political issues affecting the region.
“We continued to invest in our capability, opening a new office in Mexico City and expanding operations into Argentina, Bolivia, Guatemala and Panama.
“Within the infrastructure sector we secured projects in airports, roads, power and utilities and continue to see good opportunities for growth. In natural resources we successfully completed the expansion of the Cerro Verde mine with the world’s largest copper concentrator and continued to secure work on major mines in Argentina, Brazil and Chile.
“In our real estate business we continued to successfully support global clients in the technology and manufacturing and commercial sectors and worked on a number of projects for major local clients across the region.
“For the coming year, we see growth opportunities in all three of our core sectors across the whole region.”
We employ nearly 4,300 staff across 97 offices worldwide, and have now recorded six successive years of growth. Our profit after tax of £30m has almost tripled in just five years.
Vincent Clancy, Chief Executive Officer for Turner & Townsend added: “Our achievements are a testament to the strength of the business, despite a backdrop of significant volatility.
“The past year has seen us become the partner of choice for many of the world’s largest capital programmes, and our diversified business model continues to serve us well – giving us the flexibility to adapt to changes in individual markets.
“We’ve grown our global footprint, supporting our key regional hubs and strengthening our operations around the world to better serve our clients wherever and whenever they need us.”
For more information, see the company’s annual review 2015-2016.