OneLogix growth strategy delivers

OneLogix CEO Ian Lourens believes the logistics and transport group is gaining momentum following a “positive set of results” for the year to May.

Group’s headline earnings per share climbed 15% during the period backed by a strong organic performance.

“We are very happy with the performance as it was driven almost entirely by organic growth, with no acquisitions,” Lourens said.

OneLogix had sustained its growth trajectory with another year of continued improvement, despite coming off the high base of financial year 2016 and dealing with an unfavourable trading environment, he said.

For the past 10 years, OneLogix achieved compound annual growth in revenue of 22%, 17% in trading profit, 14% in core and diluted core headline earnings per share and a 24% increase in net tangible asset value to 255.60c per share.

“Our business growth strategy has continually proven its mettle in a protracted, tough economic environment. Our acquisitions to date have successfully diversified the group away from our former reliance on the auto-logistics industry and continued to perform well in the year.

“Our four in-house start-ups have steadily increased their contribution to group earnings,” Lourens said.

OneLogix had not made acquisitions during the 2017 financial year as it had been unable to find any attractive assets to buy. “I think acquisitions will happen in the 2018 financial year as market demand returns.”

During the reporting period, there was a fourth consecutive year of contraction in the autologistics market. “This necessitated a retrenchment exercise in OneLogix Vehicle Delivery Services. Excluding the once-off costs associated with this, double-digit growth would have been achieved in all key group financial indicators,” he said.

The group declared a final dividend of 5c per share, making the total dividend 13c per share.