“Over the past ten years, the investment focus of OneLogix has primarily been within, what is known as the Logistics Services segment of the group’s business, which presently contributes some 85 per cent of the group’s earnings,” said the logistics and transport group [DATA OLG:OneLogix Group LTD.] in a statement.
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It added that the core competencies of the group are therefore in specialised long distance transport while courier and express parcel delivery is a specialised area of logistics which OneLogix had chosen to exit several years ago.
“Courier and express parcel distribution is a significant component of PostNet’s product mix, which demands further specialist skills relating in particular to retail and last mile delivery logistics. These are skills currently that fall outside the core focus of the group,” continued the statement.
The group said that PostNet will be better suited within an environment that offers a dedicated focus on the imperatives of its retail requirements.
“OneLogix on the other hand would be better suited to relinquish its shareholding in a business where it cannot add real value and where this would also enable it to concentrate on acquisitive and organic activity within the specialised logistics arena.”
The net asset value attributable to PostNet at 31 May 2014 was 6.4 million rand while its net profit after tax for the same period stood at 10.6 million rand.