Transguard doubles profits despite slowdown

Transguard's managing director, Mike McGeever.

Leading securities and facilities management provider Transguard doubled its profits to US $20 million (AED75 million) last year, despite tricky market conditions.

The firm, a subsidiary of the Emirates Group, saw revenues rise by 57% to $165.5 million during 2008.

“Despite the challenging global economic conditions, the Transguard Group has maintained its exceptional rate of growth,” said Transguard Group CEO Dr Abdulla Al Hashimi.

“It is a testament to the robustness of the group that it has been able to prosper in the current economic climate.”

Al-Hashimi said that the operator’s successful diversification into business support services, including facilities management, had helped its bottom line.

“Our key objective for the next 12 months is to replicate this year’s financial performance, a substantial achievement in itself and one which will reinforce our reputation as one of the most reputable and successful companies in the UAE and one with a long and secure future,” said Transguard managing director Mike McGeever.

The firm’s FM clients include Dubai International Airport’s Terminal 3, the Atlantis hotel on the Palm Jumeirah and Emaar Hospitality.

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