Emirates Management Services Corporation boosts net profits
The Board of Directors of Emirates Management Services Corporation (EMS) announced that during the first five months of 2004, EMS has registered a profit of Dh 24 million with revenues touching Dh 192 million and cost of operations placed at Dh 168 million.
Approving the financial statement for the year 2003, after review by the State Audit Institution and the external auditing report, the Board also announced a record net profit of Dh 51 million in 2003 compared to Dh 29 million in 2002, thereby achieving an increase of 77 per cent.
The announcement was made during a meeting held recently at the Ministry of Finance and Industry premises in Dubai. The meeting was chaired by Dr. Mohammed Khalfan bin Kharbash, Minister of State for Finance and Industry and attended by the members of the board.
Commenting on the financial results, Ali Kajoor Al Nuaimi, General Manager of EMS said: “The results are ample evidence of the remarkable achievements of EMS and reflects the commitment and dedication of its employees – factors that contributed greatly towards its success.”
He added that within a short period since its establishment, the corporation had been able to build strong strategic relations with its clients by offering them a selection of unique services.
“The expansion in our service offering as well as our growing clientele which includes governmental federal entities, reflect the success of the systemized productivity plan implemented by the corporation in order to achieve its objectives.” he said. “The revenue generated by the service sector alone touched Dh 78 million during the first five months of this year compared to 76 million during the same period in 2003,” he added.
The federal entities being serviced by EMS include the Customs Federal Authority, Emirates Central Bank, Emirates Authority for Standardization and Metrology and Tanmia (The National Human Resources Development and Employment Authority).
“EMS was able also to strengthen its relations with the private sector and aims at implementing international specifications and standards in the field of services,” Al Nuaimi explained.
Al Nuaimi highlighted the corporation’s efforts towards employing UAE nationals, and said that by the end of May 2004, around 106 UAE nationals were recruited by the corporation. He added that 44 others were expected to join EMS soon.
He pointed out that within the same period, EMS was able to achieve revenues in the field of services amounting to Dh157 million, in the Cleaning Services of Dh 31 million while the hospitality sector achieved revenues of Dh 2 million.
EMS is currently working on expanding the hospitality network. It has increased the number of hospitality companies to 36 whereas the total number of hotels has reached 55.
According to Al Nuaimi, the corporation was able to organize four training courses for security guards and office boys in Abu Dhabi, Dubai, Sharjah, Ajman and Umm Al Quwain, besides increasing the number of inspectors in charge of monitoring the corporation services offered to ministries and governmental entities. (menareport.com)
© 2004 Mena Report (www.menareport.com)
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