Business services provider Transguard Group has posted annual profits of $63.7 million (AED234m) off the back of four years’ worth of operational efficiencies as well as emergency measures taken to mitigate the impact of the Covid-19 pandemic on the company.
Financial results for the year show annual revenue of AED2.25 billion ($612.7m). Further highlights reveal AED1.5bn ($408.4m) in new business, the launch of its own catering company and an expansion of service offerings.
“The result of four solid years of effort, we’ve made it a priority to embed operational efficiencies into everything we do, an approach that has consistently added to our bottom line,” said Greg Ward, managing director.
However, the onset of coronavirus in late February saw the business reduce headcount and working hours, while salary reductions were accepted across the management team to help fund housing, catering and allowances provided by the company for employees who could no longer work due to paused or cancelled contracts.
Ward said: “These were not choices that we made lightly. However, we were also keenly aware of our obligation to continue strengthening the foundation of Transguard Group to ensure our continued ability to deploy our own ‘masked heroes’; that is, Transguard cleaners, security guards, delivery drivers, warehouse teams and more, all of whom have continued to work around the clock to do their part to support the nation, its businesses and its residents, to fight the spread of Covid-19.”
Follow us on
