Ends FY 2019-20 with $64 million profit and $410 million in new contracts
Transguard Group has reported its FY 2019-20 consolidated financial results where, in addition to exceeding its profit forecast by a record-breaking 25%, it has also reported winning an additional $404 million in new business.
The Group also launched its own catering company, further expanded service offerings and bagged an impressive number of awards. Transguard Group ended the financial year with revenue of $694 million.
Managing Director Greg Ward said: “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.”
“However, in late February it quickly became apparent that it would take more than past efficiency to see Transguard through the COVID-19 crisis.”
As the virus brought the world to a standstill, Transguard took immediate measures to ensure that the company continued to operate with strength and agility, including the decision to reduce headcount and working hours.
Adds Ward: “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.”
In March 2020, Transguard Group also announced a month of salary reductions for its management team. In parallel, the company has also been actively upskilling and cross-training employees with new skills that they can potentially use in other divisions of Transguard.
“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.”
Sanitizing Stations: For the first time, Transguard designed and manufactured its own line of sanitising misting stations. These innovative products offer buildings, worksites and even motorways an additional safeguard against COVID-19.
The three stations have raised considerable interest with existing and new clients, and the company is in the process of deploying an impressive array of stations across the country, including one of the UAE’s busiest airports.
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