OneLogix Posts 15% Revenue Surge Despite Rising Input Costs

OneLogix SA

VENTURES AFRICA – South Africa’s OneLogix revenue for six months ended November last year gained 15 percent to R499 million ($56 million) despite general margin squeeze from rising input costs, intense competition and prolonged labour strikes.

The JSE-listed transport group said headline earnings per share (HEPS) surged 13 percent to 13.6 cents, driven entirely by organic growth for the sixth consecutive period.

The company attributed this good performance to skilled management with a number of group companies exceeding targets.

Additionally, the group successfully concluded two new acquisitions that would lessen its dependence on its auto-logistics operations going forward.

The group’s consistent growth trajectory over the last years has been spurred by strict cost management, on-going re-investment in operations, strategic acquisitions and recognised service excellence.

Operating profit increased by 7 percent to R50.7 million ($6 million) and the company declared a dividend of 4.5 cents a share, equal to the interim dividend last year.

Ian Lourens said: “The group operates on a decentralised and entrepreneurial management model, which makes the most of the individual management team’s strengths, networks and expertise. This is the reason the business is hardy even in challenging times.”

Lourens was upbeat about the outlook and hopes that industrial action in South Africa is behind the company.

“The outlook for the year remains positive. Our businesses are well positioned to address challenges and take advantage of growth opportunities in their markets. The acquisitions should start to contribute to results in the period ahead,” Lourens said.