Dubai's Transguard Group sees record profits for fourth consecutive year
The group ended the financial year with revenue of AED2.55 billion
Dubai-based workforce solutions company Transguard Group has reported postitive results for the financial year 2019/20.
Ending March 31 2020, the group saw profits exceeding its forecast by 25%, with AED1.5bn generated from new business and the year as a whole ending with AED2.55bn in revenue.
“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 Transguard Group MD Greg Ward. “However, in late February it quickly became apparent that it would take more than past efficiency to see Transguard through the COVID-19 crisis.”
The group explained that its immediate action against COVID-19 is part of the reason it ended the FY on a positive note. Measures such as having all of its workforce wearing masks, reducing pay for its management team and upskilling its existing staff have all contributed to the group managing through February and March 2020.
“What the virus has ultimately revealed is our resilience,” Ward continued. “Our training continues to set industry standards, our capacity for innovation has led to the development of new products and our passionate team powers every success we enjoy.”
“Offering a robust response to a global pandemic was not how we intended to finish this financial year,” Ward concluded. “But we quickly realised that we had the infrastructure in place to meet the unexpected challenges. I am proud of our progress and our people, and we are confident in our strength to tackle the challenges and opportunities of the future.”
Established in 2001, Transguard Group is an Emirates Group and Al Hail Holding company with an available workforce of 61,000.