The South African logistics provider saw revenue from continuing operations increase from 498 million rand for the six months ended 30 November 2012 to 664 million rand for the 2013 period.
“The interim period, while marked by significant trading challenges, saw the group continue to grow and expand. Our strong existing businesses continued to perform well despite adverse market conditions, and recent acquisitions contributed a gratifying performance for the full six months,” [DATA OLG:OneLogix Group Limited] said.
“The group further continued on the acquisition and business development path with a focus on the Specialised Transport reportable segment. In the interim period the group successfully overcame trading difficulties including protracted industrial unrest in the vehicle manufacturing, component supply and delivery markets.”
Operating profit was up 34 per cent from 50 million rand in 2012 to 67 million rand in 2013 and profit before taxation increased from 45 million rand to 62 million rand.
Headline earnings per share rose 29 per cent from 13.6 cents in the 2012 interim period to 17.6 cents in 2013, cash flows generated from operations were up 93 per cent and core headline earnings per share increased from 13.7 cents to 18.5 cents.
“OneLogix’s strategy is working well – acquiring small entrepreneurial businesses, offering them the benefit of a management platform which allows them to expand and realise their potential, together with a focus on expanding existing businesses with continually refined business systems and processes,” it said.
“It has been tested during difficult trading conditions and is expected to prevail in the medium term. Despite the depletion of cash resources with the Izingwe share buy-back, OneLogix remains strongly cash generative, which will undoubtedly continue proving a strong building block going forward.”