Transguard's net profits grow 22% for 2018-19
Revenue growth of 11% to AED 2.578 billion, and new contract wins increase 33% year-on-year
Dubai’s Transguard Group has said to have achieved 22% growth in net profit to over AED186m for financial year 2018-2019 ending March 31.
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.
Dr. Abdulla Al Hashimi, chief executive officer, Transguard Group said: “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.
Greg Ward, managing director, Transguard Group said: “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.”
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%.
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 AED 38 million in the 2018-2019 year.