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Top AltX performer OneLogix today announced the transfer of its listing to the main board of the JSE in the Transportation Services Sector, marking the progression of the group’s growth strategy. Listed on the JSE for 13 years to date, OneLogix has come of age on AltX delivering consistent growth in challenging times remaining competitive with its logistics and transport peers. A move to the main board exposes the group to a larger pool of capital and is the next step in tapping its growth potential.
Over the past five years to May 2012 OneLogix has achieved annual compound growth in revenue of 37%, operating income of 26%, HEPS of 21% and operating cash flow by 27%%.
One of the largest AltX listings by market capitalisation, the company took home the Best AltX Company award in 2011. The strength of the group is reflected in its purely organic growth for the last six consecutive half-yearly reporting periods. Notwithstanding this greenfield achievement, past acquisitions, and even the two recent acquisitions, have also made their contribution after successful integration.
CEO Ian Lourens says the time is right for a move. “We have gained considerable experience on AltX and have achieved significant strategic milestones,” he says. “The transfer to the main board should help fuel our further organic growth potential, as well as help fund new acquisitions. We are confident that once we are appropriately positioned alongside our peers, on the main board, we will be strong contenders in the competition for capital.”
He says that the group’s track record is primarily built on the spread of well-conceived and resilient businesses, which are positioned in well-defined niche markets with relatively high barriers to entry.
He says moreover that the group’s people, particularly its management, are its strength. He is quick to point out that this is not a corporate catch phrase but rather a strategic imperative for the group. “Preserving the entrepreneurial nature of our operations has been and remains a key focus, which has enabled the effective decentralisation of operations with solid support at the centre from group,” Lourens emphasises. He believes operational management are best positioned to take their businesses forward based on their history in the businesses, industry knowledge and wide networks. “Our entrepreneurial business model ensures that they remain vested in performance. As a direct result we have maintained good operating margins in all our underlying companies.”
Looking ahead Lourens says the group’s exit from its non-core businesses has positioned OneLogix to focus on its larger core businesses and to pursue acquisitions.
JSE Client Relationship Manager, Nicole Cheyne says: “The JSE fully supports companies moving to the main board. OneLogix is a perfect reflection of AltX’s success as it was conceptualised - a place where smaller companies could list and grow.”
The transfer will become effective on 18 June 2013. The share closed Friday at R2.63.
Issued by: Envisage Communications
(011) 325 5944/082 497 9827
On behalf of: OneLogix Group Limited
Ian Lourens, CEO
(011) 396 9040/ 082 440 9683
Share code: OLG
Issue date: 10 June 2013