EFS on target to achieve significant revenue growth of 26% amidst considerable global headwind
[ Dubai, UAE - SEP 24, 2017] EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, North Africa, South Asia, today announced that the company has sustained its growth momentum by securing contracts worth AED 1 Billion across its operating regions.
The company was awarded key contracts in its biggest markets i.e. UAE, Saudi Arabia, Qatar, Jordan, and Egypt, for both public and private sector clients operating in various industries such as education, master communities, residential, and commercial entities. Buoyed by the project wins, EFS is set to achieve a commendable revenue growth of 26%, despite the challenging macro and socio-economic scenarios in its major markets.
Tariq Chauhan, Group CEO, stated: “We are pleased with the progress that EFS has achieved in 2017, despite the significant pressures experienced by the global FM industry due to the vagaries of the global economy. EFS has adopted an innovative strategy and pro-active approach in business development which has helped us deliver key project wins in the region. We are constantly engaging with existing and prospective clients to raise awareness about the benefits of professional FM services which have started to pay off, as evidenced by the strong growth in our project awards amounting to AED 1 Billion, as well as projected 26% revenue growth.
It’s important that the industry keeps a finger on the economic pulse of our markets, which are turning more fiscally conservative and have high expectations of realizing value for their expenditure. We are utilizing the opportunities presented by the current market conditions, to expand our presence in lucrative markets like Nigeria, Morocco, Ethiopia, and Sudan, which we expect to emerge as growth and demand drivers in the future.
We are also strengthening our fiscal discipline and will be extremely risk averse, and only work with select and reputable clients across the region. We are readying ourselves for the looming period of consolidation in our industry, and the resultant churning will weed out the unorganized sector, leaving large, multinational, professional FM services providers standing. Powered by our unceasing efforts to spread the benefits of global best practices, modern innovation and technology, as well as our motivated and talented multi-cultural, multi-national workforce, we are confident of consolidating our leadership position in our key markets, in the mid and long term.”