Dubai – MENA Herald: UAE-based Transguard Group today released its annual figures for the financial year ending 31st March 2016, which was a record year for the business support services provider, with numerous impressive milestones.
According to the figures audited by PricewaterhouseCoopers, Transguard Group, generated revenue in excess of AED1.4 billion (AED1, 426,601,870) a 38% increase over the previous year and profit of over AED123 million (AED123, 514,053) a 16% increase over the previous year. Another significant landmark for the company during the 2015/2016 financial year was the expansion of the workforce which grew from 30,000 employees on 31 March 2015 to 46,500 employees by 31 March 2016 – a substantial 55% increase.
“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 operation,” said Dr. Abdulla Al Hashimi, CEO, Transguard Group.
To deliver that strategy, Transguard strengthened the senior management team with senior industry specialists taking up the new positions of chief of security, chief operating officer of manpower services and chief operating officer of integrated facility services. This led to the reconfiguration of six business lines into four defined enterprises consisting of cash services, security services, manpower services and integrated facility services.
Transguard’s cash services business unit, is the UAE’s leading cash logistics provider. After signing strategic partnerships in 2015 with NCR, offering banks complete end-to-end ATM management solutions and the successful launch of Smart Cash Deposit Machines in partnership with Gunnebo, Transguard continued to consolidate its market position.
Serving aviation, construction, hospitality and the logistics sectors amongst others, as well as offering HR outsourcing and payroll solutions, the manpower services division was the stand-out performer in 2015/16 growing its revenue base year-on-year by over 50%, highlighting the increasing demand for outsourced personnel.
Transguard’s workforce solutions division, a HR outsourcing service for professional contract staff, has seen year on year growth of 23% and is now a firmly established business stream within the overall manpower enterprise.
“Two specific and dynamic industry sectors worthy of note are construction and aviation. 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 aviation manpower workforce servicing both Dubai International and Dubai World Central,” commented Greg Ward, Managing Director, Transguard Group.
Transguard security services delivered revenue growth of 30% and continues to play a key role in the deployment and ongoing operation of the explosive trace detection (ETD) screening system at Dubai International Airport.
“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,” added Ward.
Integrated facility services (IFS) revenues grew by 9%, and won significant new contracts across the retail, banking and leisure sectors. This was achieved through diversifying into different vertical industry sectors and expanding into the Abu Dhabi market.
“Looking ahead to 2016/2017 we see another positive year for Transguard as we look to continue on our current growth trajectory. 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,” commented Ward.