Logistics and aviation contracts boost Transguard’s profits
Transguard Group, which provides security solutions and high-net-worth logistics services in the Middle East has announced record profit growth of 22% to over AED 186 million for the financial year ending 31st March 2019.
The profit results for the year were driven by its logistics and aviation services, with these sectors seeing revenue growth of 13% and workforce growth of 16%.
“The diversity of our service portfolio continues to power our growth in other areas as well: For example, Transguard’s combined service portfolio has a very strong presence in the aviation sector for a combined contract value of AED 440-million,” said Greg Ward, managing director of Transguard Group.
The Group’s revenue climbed 11% to a record AED 2.578 billion with record contract wins of more than AED 2.8 billion – 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,” added Dr. Abdulla Al Hashimi, CEO, Transguard Group.
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 added.