ALTX-listed logistics group OneLogix on Tuesday reported an 11% increase in headline earnings per share to 13.6c for the six months ended November.
Group CEO Ian Lourens said OneLogix’s businesses were "well positioned to address challenges and take advantage of growth opportunities in their markets", adding that its recent acquisitions "should start to contribute to results in the period ahead".
Mr Lourens said OneLogix remained "hardy" in challenging times, as the group "operates on a decentralised and entrepreneurial management model, which makes the most of the individual management team’s strengths, networks and expertise".
Group revenue increased 15% to R499m compared with the previous corresponding period, and the group declared an interim gross dividend of 4.5c per share, unchanged from the prior corresponding period.
The group’s performance for the interim period was "driven entirely by organic growth for the third consecutive year", it said.
Vehicle Delivery Services (VDS) protected its market share and the group continued to invest in optimal fleet, IT infrastructure, facilities and people "to effectively leverage VDS’s leadership of this market and realise future growth potential", while management also focused "relentlessly" on cost management.
Commercial Vehicle Delivery Services "continued to gain market share", while RFB Logistics — and in particular OneLogix Projex — "again exceeded expectations".
PostNet, a mature business, "remains a valuable contributor to the group with high margins and reliable annuity income".
It continued to evaluate new opportunities for growth and diversification, OneLogix said.
Meanwhile, Atlas Panelbeaters was "confronted by tough market conditions", necessitating a review of business processes.
"This action is well under way and initiatives such as cost cutting and improved operational and business process controls are beginning to bear fruit," the company said.
Effective October last year, OneLogix disposed of its 80% stake in Magscene to Caxton for R8.5m, signifying the group’s "final exit from its noncore media-related logistics businesses".
The group said that although revenue was traditionally weighted to the first half of the financial year, the period had been affected by industry-wide industrial action.
However, the outlook for the full financial year to end May "remains positive".
"The existing businesses within the group clearly understand their challenges, and are well positioned to address these and to take advantage of growth opportunities in their particular market segments," OneLogix said.