LOGISTICS and transport group OneLogix wants to take its smaller businesses — such as PostNet — into other Southern African countries where its largest division, Vehicle Delivery Services, already has a footprint.The company's revenue for the year ended May was up 25% to R1.3bn while trading profits improved 33%.CEO Ian Lourens said earnings growth was mostly organic, though new operations such as Madison Freightlines South Africa and OneLogix Linehaul had also contributed to the rise in profit.OneLogix’s shares, tightly held by the company’s directors, rallied 3.53% to close at R4.40 on Tuesday, despite the group saying it would not pay a final dividend. The company’s market capitalisation has ballooned from R124m at the end of its 2010 financial year to R936m at the close on Tuesday.The group derives about 15% of its revenue in Southern Africa, through Vehicle Delivery Services, which has offices in cities including Harare, and a presence at various border posts.Mr Lourens said On...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.