Transguard Group Announces Profitable Year-End Results
Despite Severe Pandemic Challenges
The UAE’s leading business solutions provider announces profit of AED 32.1 million and turnover of AED 1.87 billion
Dubai, United Arab Emirates, 2 May 2021: Transguard Group has today announced a profit of AED 32.1 million and revenue of AED 1.87 billion for FY 20/21; the UAE’s leading business solutions provider also revealed AED 2.1 billion in new and renewed business.
“In a year otherwise dominated by uncertainty and prediction-defying challenges, Transguard reliably provided insightful solutions and best-in-class client support,” explained Greg Ward, Managing Director, Transguard Group. “Our innate ability to adapt to this new business landscape was key in achieving a strong end to a difficult year.”
One of the first consequences of the Covid-19 pandemic was the closure of airports, both in the UAE and abroad. Quickly followed by a country-wide lockdown, many Transguard clients were forced to make the difficult decision to pause or cancel contracts. This meant more than 12,000 employees were idle almost overnight, none of whom could be repatriated to their home countries due to flight restrictions. Driven by a deep concern for their wellbeing, Transguard ramped up its already robust welfare initiatives and for the next six months dedicated itself to ensuring that these idle staff were provided with food and accommodation until they could be put back into the workforce or returned home.
However, buoyed by multiple strategic wins that were driven by innovation and customer service, Transguard’s team successfully fought back against the economic ravages of the global pandemic to bring the company back into profitability by the end of the financial year.
In addition to deploying more than 44,000 employees every month during the height of the Covid-19 crisis and deploying 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.
Transguard’s Security Services division expanded its already sizeable reach by becoming the sole security provider for the country’s largest bank, as well as by taking on responsibility for the substantial Residential, Hospitality and Entertainment portfolios of the UAE’s largest property developer.
After two successful decades, Transguard Cash continues to lead the industry with a continual stream of innovations, including new ATM and cash sanitisation services. The 2020 launch of the Transguard Pay kiosk network (which gives Transguard’s users easy, convenient access to top up their mobile credit or even send money to their families in their home countries) served to underscore the division’s strong welfare credentials.
With the exponential growth of the logistics sector in 2020, Transguard’s Manpower portfolio likewise 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 these 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. Transguard has also continued its support of Expo 2020 Dubai with the announcement of contracts with seven pavilions.
Transguard’s Aviation and Logistics division also announced significant contracts with both Emirates and Etihad Airways: Under the first, Transguard is the exclusive provider of chauffeur services for Emirates’ Business, First and Multi-Passenger Vehicle fleets. Meanwhile, Transguard’s contract to support Etihad Airways with loaders, fork lift operators and other designations was extended by an additional three years; this qualifies the business solutions provider as a Diamond Partner in the airline’s Alwatani programme.
Meanwhile, Transguard never wavered from its commitment to the welfare of its employees and in January announced an all-encompassing initiative to vaccinate 95% of its workforce before the end of March. By facilitating more than 78,000 vaccinations by the end of the financial year, Transguard surpassed its prior commitment.
“If we learned anything during the pandemic it is to keep our eyes on innovation and a fierce focus on customer satisfaction,” Ward concludes. “We will not lose our momentum as we continue to support the UAE as it bounces back stronger than ever.”