UAE-based Transguard Group, a leading security services provider in the Middle East region, has registered a net profit of Dh123 million ($33.4 million), up 16 per cent over last year.

A part of the Emirates Group and Al Hail Holding company, generated revenue in excess of Dh1.4 billion ($381 million), a 38 per cent increase for the financial year ending March 31, 2016 over the previous year.

today released its annual figures for the financial year ending 31st March 2016, which was a record year for the business support services provider, with numerous impressive milestones.

According to the figures audited by PricewaterhouseCoopers, a significant landmark for the company during the 2015/2016 financial year was the expansion of the workforce which grew from 30,000 employees on March 31, 2015 to 46,500 employees by March 31, 2016 - a substantial 55 per cent increase.

Announcing the results, CEO Dr Abdulla Al Hashimi said the financial year 2015/2016 has been yet another record year for Transguard.

Serving aviation, construction, hospitality and the logistics sectors amongst others, as well as offering HR outsourcing and payroll solutions, the manpower services division was the stand-out performer in 2015/16 growing its revenue base year-on-year by over 50 per cent, highlighting the increasing demand for outsourced personnel.

"These positive results have been achieved through significant growth across all of our business units and by developing and following a business strategy which simply focused on placing customers at the heart of our business, while optimising our operation," stated Al Hashimi.

To deliver that strategy, Transguard strengthened the senior management team with senior industry specialists taking up the new positions of chief of security, chief operating officer of manpower services and chief operating officer of integrated facility services, he noted.

"This led to the reconfiguration of six business lines into four defined enterprises consisting of cash services, security services, manpower services and integrated facility services," he added.

Transguard’s cash services business unit, is the UAE’s leading cash logistics provider. After signing strategic partnerships in 2015 with NCR, offering banks complete end-to-end ATM management solutions and the successful launch of Smart Cash Deposit Machines in partnership with Gunnebo, Transguard continued to consolidate its market position.

Transguard’s workforce solutions division, a HR outsourcing service for professional contract staff, has seen year on year growth of 23 per cent and is now a firmly established business stream within the overall manpower enterprise.

Greg Ward, the managing director, Transguard Group, said two specific and dynamic industry sectors worthy of note were construction and aviation.

"The construction services business unit finished the year with 95 per cent revenue growth, while the aviation services business has grown revenue by 21 per cent and now employs a vast aviation manpower workforce servicing both Dubai International and Dubai World Central," he added.

Transguard security services delivered revenue growth of 30 per cent and continues to play a key role in the deployment and ongoing operation of the explosive trace detection (ETD) screening system at Dubai International Airport.

“Looking ahead to 2016/2017 we see another positive year for Transguard as we look to continue on our current growth trajectory," stated Ward.

"We will focus on delivering high levels of service to our existing clients while also concentrating on growing our market share through acquiring new clients, expanding geographically as well as enhancing our service offerings," he added.-TradeArabia News Service