Jamal Abdulla Lootah
Imdaad has managed to retain top spot yet again but not after experiencing its share of challenges over the last 12 months. In an interview with fmME in September, Imdaad group CEO Jamal Abdulla Lootah said, “despite challenges, we have grown about 15% year-on-year”.
Moreover, Imdaad has managed to add specialised services to its portfolio that include fire prevention and control; elevator, door and barrier maintenance that now add up to 23 services offered in-house. For the financial year starting January 2017 and concluding December 2017 Imdaad’s revenues were $166.08m (AED610m), reflecting a 16% year-on-year increase.
For financial year 2018, Imdaad is forecasting a 12% increase in revenues to $185.14m (AED680m) by “focusing on profitable growth in a challenging market where margins are rapidly declining”.
During this time Imdaad has also managed to turn around healthy profit figures in the range of 22% to 24%.
Apart from winning new work, Imdaad has managed to retain a lion’s share of its existing clients. It will continue to provide services for Hamdan, Sports Complex, Waterfront Market, Dubai Investments Park and Emirates Post Group among several other infrastructure projects in Dubai.
Looking ahead Imdaad has several expansion plans and a well-defined growth strategy laid out to ensure its stronghold in the UAE market, while building on its presence in Oman.
Farz, a material recycling facility with a daily capacity of sorting 1,400 tonnes, will be commissioned “early next year”. Imdaad sees this as a crucial service in line of Dubai Municipality’s new waste tipping fees that encourages the emirate to divert from landfill.