UAE's Transguard records $388m revenue in 2015/16
Transguard's integrated facility services revenues grew by 9%, security services by 30%, and manpower services by 50% through the financial year
UAE-based Transguard Group recorded a 38% hike in annual revenues – up to $388.4m (AED1.42bn) – for the financial year ending 31 March, 2016.
The company's profits for the year were $33.6m (AED123m), a 16% rise over the previous year.
These figures were audited by PricewaterhouseCoopers (PwC), Transguard said in a statement.
Transguard's workforce also grew by 55% during the year, from 30,000 employees as of 31 March, 2015, to 46,500 on 31 March, 2016.
During the year, Transguard's senior management team saw the induction of industry specialists to new positions within the group.
These new job titles include chief of security, chief operating officer of manpower services, and chief operating ofifcer of integrated faclity services.
Six of the company's business lines were also reconfigured into four enterprises, namely cash services, security services, manpower services, and integrated facility services.
Transguard's integrated facility services (IFS) revenues grew by 9% through the financial year, with the division winning new contracts across the retail, banking, and lesiure sectors.
The new deals followed Transguard's efforts towards vertical industry diversification and expanding into the Abu Dhabi market.
Elaborating on these figures, Greg Ward, managing director of Transguard Group, said: “Looking ahead to 2016/2017, we see another positive year for [the company].
"We will focus on delivering high levels of service to our existing clients while also concentrating on growing our market share through acquiring new clients, expanding geographically as well as enhancing our service offerings.
"Our future success is dependent on the effort of our tens of thousands of employees and we place great importance on the welfare and the progression of our employees. This will be another key focus area for us in 2016/2017."
Transguard security services recorded revenue growth of 30%, and the division continues to play a key role in the deployment and ongoing operations of Dubai International Airport's explosive trace detection (ETD) screening system.
“We continue to be at the forefront of the security industry, and in January 2016 we launched our ‘Smart Security’ division where we provide consultancy on security integration and go on to design and implement full security lifecycle solutions based on the latest technologies,” Ward added.
Transguard manpower services division, which serves local aviation, construction, hospitality, and logistics sectors, was the "stand-out performer" of the 2015/16 financial year, with its annual revenue base growing by 50% during the period.
The growth of its manpower division, which also offers HR outsourcing and payroll services, highlights "the increasing demand for outsourced personnel", Transguard's statement added.
Transguard’s workforce solutions division, an HR outsourcing service for professional contract staff within the manpower enterprise, recorded year-on-year growth of 23%.
"Two specific and dynamic industry sectors worthy of note are construction and aviation," Ward said.
"The construction services business unit finished the year with 95% revenue growth.
"The aviation services business has grown revenue by 21% and now employs a vast manpower workforce serving both Dubai International and Dubai World Central [airports]."
Remarking on these results, Dr Abdulla Al Hashimi, CEO of Transguard Group, said: "The financial year 2015/2016 has been yet another record year for Transguard.
"These positive results have been achieved through significant growth across all of our business units and by developing and following a business strategy which simply focused on placing customers at the heart of our business, while optimising our operations."