UAE’s Transguard Group records 33% revenue rise in 2016/17
Transguard Group's revenues for the 2016/17 financial year hit $517.3m (AED1.9bn), representing a 33% increase compared to the previous year
Transguard Group recorded a 33% year-on-year revenue increase during its 2016/17 financial year.
The UAE-headquartered business support services provider saw its revenue exceed $517.3m (AED1.9bn) last year, while its profits – at more than $39.8m (AED146m) – witnessed an 18% rise compared to the 2015/16 financial year,
The company noted that the 2016/17 financial year also saw the group expand its workforce, from 46,500 employees to 55,399 employees, which represents a 19% increase.
The financial results reported by Transguard were audited by PricewaterhouseCoopers (PwC).
Commenting on the group’s financial performance, Abdulla Al Hashimi, chief executive officer of Transguard Group, said: “These results are remarkable, given the macroeconomic landscape over the past 12 months.“Our business retention rate, over 90%, and new contract wins, over 300, across all of our business units – valued at $231.4m (AED850m) annually – validate our business strategy of being customer focussed and optimising our operation through innovation and efficiency.”
According to Transguard, revenues from its security services business unit went up by 28%. Its manpower services unit, meanwhile, saw its revenues register a 45% increase and its employee headcount go up by 29%.
The company noted that the latter’s performance can be attributed to the uptick in construction-related activity in the UAE, as well as to new contract wins in the logistics and manufacturing sectors. The company also cited the increase in the professional workforce solutions business, where the outsourced headcount grew by 91%, as another factor behind the business unit’s successful performance for the 2016/2017 financial year.
Transguard also reported a strong year for its integrated facility services (IFS) business, which recorded over 70% growth in revenues and 36% in headcount, as a result of 38 new client project wins.
Boosting its suite of services, the company also launched a residential maintenance company, Transguard Living, during the same financial year.
Greg Ward, managing director of Transguard Group, said: “Looking ahead to 2017/2018, we see another positive year for Transguard.
“With over 55,000 employees and growing, our future success is dependent on the efficiency and hard work of our staff. Their well-being is essential to us, if we are to continue delivering consistent, quality, and value-driven client service, while also growing our market share and outpacing the competition - the two are inseparable."