UAE’s Transguard Group posts 86.2% dip in profit for FY20/21

Dubai’s Transguard Group has reported a profit of Dhs32.1m for the financial year 2020/2021, dipping 86.25 per cent from Dhs233.5m recorded during a year earlier period.

The company posted revenue of Dhs1.87bn for FY 20/21, down from Dhs2.55bn from FY 19/20. Meanwhile, it revealed Dhs2.1bn in new and renewed business.

In addition to deploying more than 44,000 employees each month during the Covid-19 crisis and deploying a further 500 employees in multiple roles to the UAE’s field hospitals, Transguard’s Facilities Management division also grew its retail portfolio with two new malls in Abu Dhabi and renewed its contract with Global Village for the 11th consecutive year, a statement said.

“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.

Transguard’s Security Services division expanded its 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.

The 2020 launch of the Transguard Pay kiosk network allows users easy access to top up their mobile credit or even send money to their families to their home countries. Meanwhile, Transguard’s Manpower portfolio 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.

Transguard Delivery also 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, meanwhile, announced significant contracts with both Emirates and Etihad Airways – 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.