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ONELOGIX GROUP LIMITED - Trading statement

Release Date: 12/08/2015 09:30
Code(s): OLG     PDF:  
Wrap Text
Trading statement

ONELOGIX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG   ISIN: ZAE000026399
(“OneLogix” or “the group”)


TRADING STATEMENT


Shareholders are advised that OneLogix expects an increase in attributable undiluted and fully diluted
earnings per share (“EPS”) of between 75% and 85% (equating to a range of between 61.3 cents per share
and 64.8 cents per share) for the year ended 31 May 2015 when compared to the EPS of 35 cents reported for
the year ended 31 May 2014.

Basic earnings have been enhanced by the once-off after tax cash profit of R144 million recognised on the
disposal of PostNet Holdings Proprietary Limited (“PostNet”) and its subsidiaries as announced on SENS on
15 December 2014. This net disposal gain is excluded from headline earnings and core headline earnings
measures.

The results for the current year ended 31 May 2015 have been negatively impacted by the once-off, non-cash
flow of a R72 million share based payment charge in terms of IFRS 2 charge relating to the implementation
of the Kagiso Capital Proprietary Limited specific issue of shares for cash. This share based payment equates
to 32.1 cents per share. The share based payment charge was negatively impacted by the strong performance
of the OneLogix shares and represents the difference between the share issue price negotiated in October
2014 and the fair value of the share at 20 January 2015 when shareholders’ approval was obtained..

Shareholders are also advised that OneLogix anticipates a decrease in undiluted and fully diluted headline
earnings per share (“HEPS”) of between 90% and 110% (equating to a range of between 3.1 cents per share
and (3.1) cents per share) for the year ended 31 May 2015 when compared to the HEPS of 31.2 cents
reported for the year ended 31 May 2014. The main reason for the substantial variance between HEPS and
EPS is the exclusion of the PostNet disposal gain realised from the HEPS measure, while the share based
payment charge is still included in the HEPS measure.

Shareholders are further advised that undiluted and fully diluted core headline earnings per share for the year
ended 31 May 2015 are expected to be between 5% and (5%) (equating to a range of between 35 cents per
share and 31.6 cents per share) compared to 33.3 cents per share for the year ended 31 May 2014.

The term core headline earnings per share, is presented to shareholders as the directors believe this provides
a meaningful additional measure of evaluating performance of the group’s operations. The core headline
earnings measure is calculated using headline earning excluding share based payments charges and the
amortisation charges of intangibles recognised on business combinations.

The financial results on which the trading statement is based have not been reviewed nor reported on by the
group's external auditors. The audited results for the year ended 31 May 2015 will be published on SENS on
or about 20 August 2015.


12 August 2015


Sponsor
Java Capital

Date: 12/08/2015 09:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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