Transguard Group posts record $626m revenue
A flurry of contract wins contributed to Transguard Group's profit growth
Transguard Group’s 2017 year-on-year revenue increased by more than a fifth to $626m (AED2.3bn).
Chief executive officer, Dr Abdulla Al Hashimi, said the group’s growth in revenue, profit, and headcount was “incredible” as it came against a “tough” environment.
Headcount increased by 17% from 55,399 to 64,774, while profit rose by 12% from $39.7m (AED146m) to $44.3m (AED163m).
Transguard’s revenue and profit growth was helped by the number of new contracts the company won during the quarter. In total, 470 contracts were secured and this, coupled with a retention of valuable accounts, boosted financial returns.
Al Hashimi said contract wins and account retention was the “major contributing factor” to the company’s record revenue.
Notable contracts include the one Transguard signed with Diebold Nixdorf, which paved the way for the business to provide maintenance services to a raft of financial centres in the UAE.
Separately, Transguard clinched a $3.95m contract from property developer Omniyat to run facilitates management services for commercial buildings in Business Bay.
Managing director of Transguard Group, Greg Ward, said the company’s integrated facility services (IFS) business unit increased its revenue by 30%, thanks to flurry of mechanical, electrical and plumbing contracts.
“The IFS business has continued the growth trajectory witnessed last year and cemented its position as a leader in the FM sector in the UAE,” he said.
“We’ve witnessed another solid all-round performance by Transguard this year, which is down to the hard work and dedication of our 64,774 members of staff. Looking ahead to 2018 to 2019, delivering excellence in everything we do will be imperative to ensure we continue to meet our business goals.”
The business has also recently launched a $1m (AED3.8m) training facility in Dubai Investment Park, which will be responsible for skilling up approximately 100,000 staff by 2020.