Since our business began over 70 years ago, we have continued to develop the skills and experience needed to make a valuable difference to our clients. Our market insight covers the full spectrum of industries, including some of the largest and most complex programmes in the real estate, infrastructure and natural resources sectors.
Our real estate business delivered overall revenue growth of 21 percent, and was particularly strong in the Middle East and UK.
Improving conditions in commodities markets in 2016- 2017 produced higher than expected GDP in several major economies including Brazil, China, Europe, Russia and the US. This encouraged significant global capital spend. Africa, The Americas and Europe also held firm, while Australia and Asia were resilient in challenging markets.
It was another challenging year for natural resources, however we saw revenue growth return in the last quarter of 2016-2017. We expect this to continue following increased activity amongst clients.
The sector has experienced signs of recovery after a significant period of low commodity prices. Projects are returning with lower capex and operating budgets and a greater focus on cost, schedule and risk prior to any financial investment being taken.
Our infrastructure business continued to outperform, with revenue rising to £155m - our fifth consecutive year of double digit growth.
Governments continue to recognise infrastructure as a lever for growth, committing to comprehensive national infrastructure plans and increasing spend. With this comes a need for intelligent selection and prioritisation of projects which deliver the greatest public benefits, whilst also being value for money. A growing demand to factor in asset management and whole-life planning at an early stage, and for capital investments to be set within a benefits planning framework, has come as a result.