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Results improve for construction sector

The construction sector has seen positive results as companies see profits increase despite volatile market conditions.

Turner & Townsend has grown its global profits by more than a quarter (29 per cent) in the year ended 30 April 2013.

In a year that saw it increase profits in all seven of its regions, Turner & Townsend’s turnover exceeded £300m for the first time (£318m). Its operating profit margin rose from 9.7 per cent to 10.5 per cent.

The company, which employs 3,239 staff across a global network of 80 offices, grew its workforce by 16 per cent in the year 2012-13. It substantially increased its international footprint and grew global profits by 29 per cent.

Overseas markets now account for 54 per cent of total revenue, and in the past year the company opened eight new offices, entering Norway for the first time and extending further into the US, the Netherlands, Germany, Russia and China.

Frese, a developer, manufacturer and marketer of dynamic valves, has also reported a 44 per cent increase in year-on-year turnover for the first six months of the year, significantly beating its 30 per cent target.

The Burscough-based valve manufacturer has experienced 20 per cent year-on-year growth over the past five years but, after a successful start to the year, which has already seen major new project successes such as The Shard at London Bridge and De Vere Gardens in Kensington, it looks set to break all records in 2013.

Turnover from 1 January 2012 to 30 June 2012 was £1.1m and the figure for the same period in 2013 was £1.5m.

Having recently consolidated sales, assembly and distribution operations at its Lancashire facility, the business employs 10 staff in the UK, but aims to increase that number by the end of the year to meet current demand.

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