An exceptional year 
for our
business.

Investing in our global footprint, our service offer, digital capabilities and our talent means we’re supporting clients and partners to create a lasting and impactful legacy. This year, our global workforce reached over 23,000 people operating in X countries. This means we can mobilise our exceptional talent to tackle the biggest projects and programmes anywhere in the world, enabling us to provide the best solutions for our clients while making our business more resilient to market volatility.

During this period, we completed the acquisition of cost management specialist ValueMetric in Egypt and announced our intention to acquire leading pan-African real estate project management firm, Profica, further strengthening our presence across the EMEA region.

Our financial performance reflects the strength of what we've built. In our global real estate business, revenue exceeded £2.1bn. We saw strong growth in all sectors, particularly in urban development, sports and venues, industrial, life sciences and data centres. Major programmes delivery frameworks continued to drive strong results, with nearly £3tn of capital investment currently under management.

Key wins included the New Hospital Programme across the UK, Entrecampos in Portugal and Barclays’ headquarters building in New York, while we also successfully renewed global portfolios with clients including Google and Shell Real Estate.

The infrastructure sector continued to benefit from sustained government investment in economic and social assets around the world. Aviation, defence and water have been strong growth drivers, with landmark wins including Heathrow Airport’s expansion, Anglian Water’s capital investment delivery for the next 15 years and the Clyde 2070 defence programme in the UK. We've also expanded across Asia-Pacific, with new airport wins in Vietnam, Bangalore and Perth.

In energy and natural resources, our business went from strength to strength, with global revenue up X% at £Xmn. The business saw significant growth in particular across the UK, Europe, Asia and the US. Our nuclear expertise now spans six continents, with notable wins including our appointment as partner on Rolls Royce's nuclear programme at the end of 2025. 

We've positioned ourselves as leaders in carbon capture and storage, leading flagship projects for industrial clusters across the UK and Europe. Securing approximately £275mn in contracts in the final quarter of 2025 has set us up well for a strong year ahead.

Behind every project and programme are the people who make it happen.

We continued to invest in our people at every stage of their career journey. Our early careers programmes provide the foundations to help set the standards, creating an inclusive industry that reflects the societies in which we operate. During 2025, around 1,000 leaders of our business also completed our leadership programme, which provides the necessary skills to lead and develop high-performing teams.

These initiatives reflect our commitment to building a workplace where everyone can thrive. By developing our people, we’re widening access to opportunity, embedding equity and building the capability, diversity and leadership strength required to deliver at scale.

Being a responsible business remains at the core of our ambition. Across our business, we began sourcing 100% renewable energy, achieving this far earlier than we originally planned. We’ve also reduced our office and operations emissions (Scope 1 & 2) by 87% since 2019, despite our growth. EcoVadis ranked us in the top 8% of companies worldwide for our sustainability approach, a result we're proud of. Our global corporate responsibility report 2025 sets out our journey and achievements over the past year.

As part of our commitment to working positively with communities, we encourage our people to engage in volunteering and pro bono initiatives that support sustainable development. This year, we delivered over 73,000 hours of volunteering in our communities and £1.67mn has been raised through corporate and employee efforts.

Our clients and industry need innovative solutions to meet the demands of a rapidly changing and complex world. We’re significantly investing in technology and AI, as well as building the culture and skills to use them.

In 2025 we launched the Hive Portal, our digital platform for project data and smarter project delivery. With live data from over 230 projects  in 2025, our clients have started to access real-time information, improving visibility and enabling consistent reporting and confident decision-making on their projects.

We're building on a strong platform. The businesses we've combined, the clients we serve and the sectors we operate in give us a foundation that is genuinely unique.

But we're not standing still.  We’ve set an ambitious journey ahead for the next five years to accelerate growth in markets including America, Asia and Africa, and continue to expand the breadth of opportunities that our CBRE partnership creates.

The scale of what we're doing is significant. But the reason I'm confident about where we're headed is clear: we have the right people, the right partnerships and the right ambition to deliver it.