Retrenchment costs constrain OneLogix’s trading profit
Transport and logistics group says earnings growth was mostly organic in nature, ‘reflecting the resilient business models of its businesses’
Transport and logistics group OneLogix on Thursday reported a single-digit growth in trading profit as one-off retrenchment costs tempered its performance.
Trading profit was up 7% to R161.3m in the year to end-June, after incurring R4.4m in retrenchment costs relating to its vehicle delivery services business.
Excluding the retrenchment costs, trading profit would have been R165.7m, which represents a 10% growth year on year.
"Earnings growth for the year was almost entirely organic in nature, reflecting the resilient business models of the majority of our group businesses and their strong management teams," the company said in a statement.
The company declared a final dividend of 5c per share, bringing the total to 13c. No dividend was declared in the previous comparable period.