UAE-based Transguard has revealed a drop in profits of pver 86 percent to AED32.1 million ($8.7 million) for the last financial year, while revenues fell by more than 16 percent to AED1.87 billion ($509.2 million).
The business solutions provider also announced on Sunday that AED2.1 billion ($571.8 million) in new and renewed business had been secured over the 12-month period, up 40 percent from AED1.5 billion ($408.4 million) in the previous 12 months, despite continuing uncertainty caused by the global Covid-19 crisis.
“If we learned anything during the pandemic it is to keep our eyes on innovation and a fierce focus on customer satisfaction,” said Greg Ward, managing director, Transguard Group. “We will not lose our momentum as we continue to support the UAE as it bounces back stronger than ever.”
In addition to deploying more than 44,000 employees every month during the height of the Covid-19 crisis and a further 500 employees in a variety of roles to the UAE’s field hospitals, Transguard’s facilities management division also landed a prestigious contract with a global leader in the oil & gas sector, grew its retail portfolio with new two new malls in Abu Dhabi and renewed its contract with Global Village for the 11th consecutive year.
During the year, Transguard’s security services division expanded to become the sole security provider for the country’s largest bank, as well as taking on responsibility for the substantial residential, hospitality and entertainment portfolios of the UAE’s largest property developer.
Transguard Cash launched the Transguard Pay kiosk, while the company’s manpower portfolio expanded to include contracts with all major supermarket chains in the UAE, as well as agreements to provide manpower for warehousing, delivery services and more for essential service providers.
As the UAE’s hospitality sector gradually opened, Transguard was awarded the framework for multiple hotels of a major regional hotel chain; meanwhile, Transguard Delivery began offering home check-in services for Emirates’ passengers in Dubai. And the company continued its support of Expo 2020 Dubai with the announcement of contracts with seven pavilions.
Greg Ward, managing director, Transguard Group
Transguard’s aviation and logistics division, meanwhile, also announced significant contracts with both Emirates and Etihad Airways.
“In a year otherwise dominated by uncertainty and prediction-defying challenges, Transguard reliably provided insightful solutions and best-in-class client support,” explained Ward. “Our innate ability to adapt to this new business landscape was key in achieving a strong end to a difficult year.”
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