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'Solid organic growth' for OneLogix

28 Aug 2013

Logistics operator OneLogix Group yesterday reported a 13% rise in diluted headline earnings per share of 24.5c for the year to May‚ mainly because of a 20% rise in revenue to R1bn.

The board declared a final dividend of 5c a share‚ bringing total distribution for the year to 9.5c. The group said that the existing businesses performed satisfactorily‚ delivering "solid organic growth".

During the year two sizeable acquisitions were concluded. In December last year OneLogix bought a 60% stake in RSA Tankers‚ trading as United Bulk‚ a leading bulk transporter of liquids - food grade products‚ hazardous materials and petroleum gas - and 40% of Drive Report‚ a driver behaviour management firm.

OneLogix said that both acquisitions had been successfully integrated and were contributing to earnings.

PostNet‚ the group's most mature business‚ continued to deliver high operating margins and regular annuity income and OneLogix said it continued to evaluate new opportunities for growth and diversification.

OneLogix expected challenging conditions in the medium-term but said its businesses were well placed to take advantage of growth opportunities.

Source: Business Day via I-Net Bridge

Source: I-Net Bridge

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