Turner & Townsend is returning to a partnership structure after growing by 75 per cent in the past five years.

The international construction consultancy has increased its turnover to £380 million in the year ended 30 April 2015, recording its fifth successive year of growth and boosting turnover by 75 per cent since 2010.

Now the firm has announced it is set to convert to a limited liability partnership as part of “an ongoing strategy to maintain and protect its independence and to reward and attract world-class talent”.

CEO Vincent Clancy said the move was “a clear statement of intent to be the world’s leading independent capital programmes professional service provider by 2020”.

He said: “Our diverse business model has allowed us to adapt successfully to this year’s shifting marketplace, and delivered some exceptional results both in our emerging markets and in our more mature regions.

“Our record turnover of £380m is an endorsement of the consistent investment we’ve made in the company - and in our staff - over the past five years, and an important milestone in our long-term plan for sustainable growth.

“In the 12 months to April we grew our global footprint by supporting projects in a total of 130 countries, and increased our capability by recruiting talent at all levels of the business.

“With our operating profit rising by 11 per cent to an all-time high of £37m, we have decided the time is right to convert to a partnership.”

Turner & Townsend said its long-term strategy of diversification – both geographically and across its three core sectors of property, infrastructure and natural resources – successfully absorbed the recent volatility in the oil and gas market to deliver a further 11 per cent increase in operating profit in 2014-15.

Annual revenue jumped by two thirds (66 per cent) in its Latin American operation, 45 per cent in the Middle East and by 22 per cent in Asia. Revenue in the UK grew to £158m; while in North America, the company’s biggest overseas market, revenue increased by 11 per cent to £62m.

The company’s infrastructure division was a star performer. It grew revenue by a fifth (20 per cent) to £106m, and was appointed to series of high-profile projects, including Medupi Power Station in Africa and major expansions of international airports in Dubai and Hong Kong.

Meanwhile the consultancy’s largest division – property – increased revenue by 12 per cent to £171m, and won a string of iconic construction projects as well as long-term contracts to manage the global property assets of multinational clients such as Barclays and Chevron.

Turner & Townsend continued to invest in both its capability and reach throughout the year. It recruited at all levels - increasing staff numbers by 14 per cent - and in April it grew its headcount in Australia by over 50 per cent after its acquisition of the consultancy Thinc made it the largest independent project manager in the region.