Picture: Supplied
JOHANNESBURG - Logistics group OneLogix said on Wednesday it expected its headline earnings a share from continuing operations for the year to May to rise between 34percent and 46percent than in the previous year.

The increase equates to headline earnings a share of between 32.2c and 35c from 24c in the previous year.

OneLogix said the group's earnings a share would be between 77percent and 87percent higher at between 51.3c and 54.2c compared to 29c in the previous year.

Share earnings were boosted by the profits realised from the sale of the company's interest in DriveRisk and the sale and leaseback transaction involving its Umlaas Road properties in KwaZulu-Natal.

OneLogix embarked on a process to restructure and strengthen its balance sheet at the beginning of its 2018 financial, which resulted in the sale of its 49percent stake in fleet management company DriveRisk, for R65million, and the sale and leaseback of its Umlaas Road vehicle storage facility for R240m cash.

Its annual financial results are expected this month.

-BUSINESS REPORT