International revenue up a fifth as consultant posts solid results
Growth in international markets helped consultant Gardiner & Theobald post solid results for the financial year ended 30 April 2012.
The firm鈥檚 turnover grew 3% to 拢112.4m, up from 拢109.6m the previous year, while distributable profit fell marginally by 1% to 拢17.3m from 拢17.5m.
Growth in overseas revenue of 22% to 拢29.5m from 拢24.3m made up for contraction in the UK, where revenue dropped 3% to 拢82.9m from 拢85.3m.
G&T鈥檚 fastest growing international regions were the rest of Europe 鈥� up 26% to 拢10.3m 鈥� and the Americas & the Caribbean 鈥� up 21% to 拢15.5m.
In the firm鈥檚 annual report, managing partner Simon Jones said the firm is beginning to pick up 鈥渟everal disaffected partners鈥� from competitors that have been acquired by 鈥渕ulti-disciplinary behemoths鈥� and a 鈥渘umber of new clients who felt disengaged by the mergers and acquisitions junket鈥�.
He reiterated the firm鈥檚 鈥渟teadfast conviction to remain an independent [firm]鈥�.
G&T landed several high profile contracts during the financial year, including cost manager on phase one of the redevelopment of Battersea Power Station and lead cost manager on construction of venues and related infrastructure for the Qatar 2022 World Cup.
The firm added it won 鈥渟everal significant commissions鈥� on construction jobs worth 拢500m for multi-national clients Novartis and AstraZeneca in China.
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