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OneLogix achieves double-digit growth as revenue exceeds R1bn

26th August 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed logistics group OneLogix on Monday posted higher earnings for the year ended May, boosted by two favourable acquisitions that were complemented by continued organic growth.

OneLogix delivered headline earnings a share of 25.1c for the 2013 financial year, a 14% rise on the 22.1c recorded in 2012, on the back of “thriving performances” from the specialised transport and retail segments.

The sale of subsidiary Magscene boosted earnings a share by 18%, from 24.5c for the year ended May 2012, to 29c for the year under review.

The acquisitions of a 60% stake in specialist liquids transporter United Bulk and a 40% interest in driver management company Drive Report contributed to the higher earnings in the latter few months of the year.

Revenue for the year passed the billion-rand mark at R1.04-billion, up 20% on the R864.1-million reported the year before.

The group’s profit for the year increased to just under R71-million, up from the R60-million achieved in the prior year, while operating profit increased from R90.4-million, to R92.5-million.

OneLogix declared a final dividend of 5c a share.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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