Earnings increase 10% to $136m as company also rebrands visual identity with new logo
The GCC’s facilities management (FM) heavyweight, Imdaad, has reported an approximate revenue of $136 million (AED500m) for 2016, which is an increase of up to 10% on the year before.
The company, which is also rebranding its visual identity, said in a statement that it signed a few major contracts with the region’s leading companies in the last quarter of 2016, enabling it to generate more business than the previous fiscal year, which drove profit margins higher and boosted overall earnings.
According to the statement, Imdaad has launched a new logo as it prepares to celebrate its 10th anniversary this year. The new logo’s design and its blue and sand colours are inspired by the UAE’s natural environment as well as Dubai and its progress, Imdaad said. It also reflects the company’s international aspirations and is in line with Imdaad’s strategy of maintaining a leadership position in the market by introducing pioneering solutions and innovative services, the statement added.
“Amid confidence of capital and market growth as Imdaad records a revenue growth of 8-10% in 2016, we are gearing up for the 10th anniversary celebrations of the company,” said Jamal Abdullah Lootah, CEO, Imdaad. “The celebration commenced with the launch of the redesigned logo, which is a reflection of the company’s dynamic expansion strategies. In 2017, we will continue to integrate new technologies with the best practices in the FM industry.
“As sustainability becomes pivotal to urbanisation across the world, there will be infinite opportunities for the FM sector, with the energy FM services gaining further popularity in the GCC. Imdaad remains confident of a robust FM sector in the New Year supported by rapid technological innovation. Continuous quality improvement and consistent enhancement in property value will (also) play a decisive role in the industry growth.”