OneLogix flags profit fall as costs and protests bite
Profits could fall as much as three quarters amid a sluggish economic environment in which it is difficult to recover costs, the logistics group says
08 August 2022 - 10:32
Freight and logistics group OneLogix warns its headline profit could fall three quarters in its year to end-May, hit by a litany of issues, including rising costs, riots in KwaZulu-Natal and persistent violence on SA’s roads.
Headline earnings per share are expected to fall by between 55% and 75% to as low as 2.8c to end-May, OneLogix said in a trading update on Monday, adding that it has become increasingly costly to conduct a logistics business in SA, primarily due to the inability to recover various rising costs from its value chain...
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