UAE-based Transguard Group announced its financial figures for the financial year ending 31st March 2019, revealing a record profit growth of 22% to over AED186m.
The Group’s revenue climbed 11% to a record AED2.578bn with record contract wins of more than AED2.8bn – representing a 33% increase from the previous year.
“With a key focus on profit improvement, the 2018-2019 financial year was one of steady revenue growth as a result of continuous optimisation in operational efficiencies and strategic alignments,” said Dr. Abdulla Al Hashimi, CEO, Transguard Group.
“Going from strength to strength, Transguard Group has once again ended its financial year with double digit profit and revenue growth,” said Greg Ward, managing director, Transguard Group. “It is our talented and dedicated team who drive Transguard’s success, with business strategies, processes and an overall performance that is clearly of the highest calibre.”
One of the highlights from the past year is the acquisition of Abu Dhabi-based G4S Cash Services LLC in December 2018, in which Transguard Group acquired more than 540 employees, 74 cash vans, the Abu Dhabi Cash Centre and all other assets of G4S Cash, increasing the market share of Transguard Cash to 95%.
“What’s particularly inspiring about this year’s financial results is that every one of our business units experienced historic growth over the past 12 months: Security, Facilities Management, Manpower, Workforce Solutions, Hospitality, Aviation, Transguard Living and Transguard Delivery all exceeded their targets,” Ward continued.
The Group’s headcount increased 3% in 2018-2019, with training for all levels of employees at the company’s Centre of Excellence training facility passing 800,000 training hours. Required for every headquarters-based employee, Lean Six Sigma training and initiatives resulted in operational efficiencies of more than AED38m in the 2018-2019 year.
Transguard Group also launched several new businesses throughout the year to better position itself as the region’s number one business support services provider, including the launch of the Executive Protection team as part of the Security division, and the launch of Specialist Services and Fit Out teams as part of Facilities Management division.
“Transguard Group continues to change the landscape of business support services and the outsourcing environment in the region, setting the bar for what it means to be our customers’ trusted partner in delivering total business support solutions that enable our customers to focus on their core business,” concluded Ward.