Beating tough market conditions to increase profit in Africa by almost six percent
We have seen our turnover increase in Africa to £14.3m, and our operating profit increase by 5.7 percent, in the year ended 30 April 2016.
- Africa revenue increased by 0.95 percent, with profit up by 5.7 percent in 2015-2016
- Africa’s team now numbers 215 people across the continent’s eight offices, with a new office in Kenya
- Global turnover reaches £409m, with profit after tax almost tripling in just five years
Despite challenges in the mining industry, our performance in Africa has been in line with expectations, with opportunities in infrastructure and real estate remaining strong.
Ian Donaldson, Africa Managing Director, commented:
“With a long-established presence in the Southern African development community, this year we furthered our expansion into East Africa, with a new office in Kenya joining our established Uganda office, which has operated for over six years. We also worked on projects in Rwanda, Tanzania and Ethiopia.
“In Africa, many of our targeted countries have plentiful natural resources and ambitious infrastructure plans. We believe with these developments, real estate projects will also follow and we are well placed to support projects in all three areas. . We are confident we can further improve on what has been a good year, with overall turnover reaching £14.3m.
“Building capacity in the region’s supply chain has also been a much needed focus, and in particular for South Africa where we have accredited 28 small and medium-sized enterprises through our Enterprise Supplier Development Programme.”
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 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 our Annual review 2015-2016.