Abu Dhabi (Etihad)
Palms Sports Company, the leading global company specialized in sports management, the largest company for training Jiu-Jitsu in the world, and a subsidiary of the International Holding Company, announced that it has won the renewal of the largest government contract in its history with a total value of 306 million dirhams extending for the next thirty months, which strengthens its steps On the right track towards securing contracts worth a total of 750 million dirhams by the end of 2022. It is worth noting that the company has succeeded in winning contracts worth a total of 711 million dirhams to date this year.
Under this new agreement, Palms Sports will provide 350 instructors and experts in jujitsu and close combat at several locations across the UAE, representing an 8% growth over the previous decade.
Fouad Darwish, CEO and Managing Director of Palms Sports, said: “Based on the strong foundations of our company and its role as a prominent player in the sports sector, we are currently seeking to conclude a wide range of partnerships with the aim of developing our current offering and enhancing our portfolio of services and products. In light of this, we expect the total value of our contracts to exceed the threshold of 750 million dirhams during 2022, which confirms the efficiency of our growth strategy and the effectiveness of its objectives.”
It is worth noting that Palms Sports Company recorded strong financial results during the first half of 2022, achieving profits of 47.2 million dirhams, which represents an increase of 37% compared to the same period last year. The company’s growth strategy includes expansion within its portfolio of businesses and investments, as it continues to grow through its current projects and programs, in parallel with concluding new contracts with companies in the education and security sector, which will make it open to broad prospects of promising investment opportunities to benefit from its strong financial position.
Palms Sports has achieved impressive success and is moving confidently and steadily on an upward growth path thanks to its commitment to the highest standards of quality and excellence in its services. This is evidenced by the company’s maintenance of its strategic relations with its current main partners and its success in strengthening these relations by winning the renewal of its current contracts in unprecedented numbers, which confirms its great success and enhances its record of achievements.
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