Supply chain management (SCM) group OneLogix has reported a return to profitability for the six months to 30 November.
<B>Salient figures</B>
OneLogix Group`s results for the six months to 30 November 2003.
Figures for the prior-year period in parentheses.
Revenue: R38.04m (R30.55m)
EBITDA: R10.24m (R8.19m)
Operating profit: R8.35m (R6.56m)
Profit before tax: R6.39m (-R0.4m)
Net attributable profit: R4.41m (-R10.39m)
EPS: 1.6c (-5.8c)
HEPS: 2.1c (-0.8c)
NAV per share: 12.2c (15.4c)
NTAV per share: 4.8c (2.2c)
Current assets: R21.49m (R20.1m)
Cash resources: R9.55m (R1.65m)
Current liabilities: R17.68m (R29.09m)
Net cash generated from operations: R13.54m (-R0.98m)
Revenue increased to R38.04 million from R30.55 million in the same period the previous year, while earnings before interest, tax, depreciation and amortisation rose to R10.24 million from R8.19 million previously.
An attributable profit of R4.41 million compares with a year-earlier loss of R10.39 million.
In addition to other supply chain businesses, the group has a strong technology component in its SCM solutions provision arm.
CEO Ian Lourens says the balance sheet has been improved significantly by the R10 million proceeds from a rights issue in May, together with the cash generated by the group`s businesses.
"The disposal of GoLogix Distribution and the closure of GoLogix Courier, as previously announced, have been substantially finalised," he says.
"While a greater portion of revenue is traditionally realised in the first half of the financial year, prospects for an improvement of the group`s annual financial results are good.
"Management will maintain focus on expanding the efficiencies and growth opportunities of the group`s businesses."
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