Wrap Text
Short-form announcement: Audited consolidated results for the year ended 31 May 2019
OneLogix Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG
ISIN: ZAE 000026399
("OneLogix" or "the company" or "the group")
Short-form announcement: Audited consolidated results for the year ended 31 May 2019
One Team One Goal
Highlights
Ongoing profit growth in weak macro environment
Revenue up 19%
PBT (excluding capital items) up 9%
HEPS and diluted HEPS up 11%
Core HEPS and diluted core HEPS up 9%
NAV up 8% to 389,7 cps
Dividend for H2 of 5 cents; total dividend for year 11 cents
Umlaas Road Phase III development under way
Five-year compound annual growth rates: NAV per share 19%; NTAV per share 21%
Five-year graphs 2015 2016 2017 2018 2019
Revenue (R000's) 1 367 980 1 778 605 1 995 888 2 310 112 2 740 092
Headline earnings
per share (cents) (1,7) 25,7 29,6 33,7 37,3
Core headline earnings
per share (cents) 33,9 34,6 36,9 40,2 43,7
Net asset value per
share (cents) 261,6 286,6 317,4 359,5 389,7
This short-form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement. The full announcement was released on SENS on Thursday,
29 August 2019, and can be found on the company's website at www.onelogix.com and can be
accessed using the following JSE link https://senspdf.jse.co.za/documents/2019/jse/isse/OLG/FY19result.pdf.
Copies of the full announcement may also be requested at the company's registered office and at
the office of the sponsor, at no charge, during office hours from Thursday, 29 August 2019 to
Thursday, 5 September 2019. Any investment decision should be based on the full announcement
published on SENS and on the company's website.
The OneLogix group again managed to sustain its uninterrupted profit trajectory despite an ever-
increasingly hostile trading environment.
The stronger first half of the year was followed by a much tougher second half. The majority of the
group's businesses delivered bottom line growth, almost exclusively organic in nature. This once
again affirms the strength of the group's business strategy and the resilient business models of the
underlying businesses, guided by skilled management teams.
Dividend
Shareholders are advised that the board of directors of the company has declared a final gross
dividend, number 11, of 5,00000 cents per share in respect of the six months ended 31 May 2019,
on Thursday, 29 August 2019. This results in an annual dividend of 11,00000 cents per share,
comprising an interim dividend of 6,00000 cents per share together with the final dividend.
This is a dividend as defined in the Income Tax Act, 1962, and is payable from income reserves.
The South African dividends tax ("DT") rate is 20%. The net dividend payable to shareholders who
are subject to DT is 4,00000 cents per share. The income tax reference number of the company is
9361229710.
At the declaration date, the issued share capital was 281 209 972 ordinary shares of no par value,
which includes 37 976 892 treasury shares held in relation to the employee and management share
participation scheme.
The salient dates in respect of the final dividend are as follows:
Last day to trade cum dividend Tuesday, 1 October 2019
Shares will trade ex dividend Wednesday, 2 October 2019
Record date Friday, 4 October 2019
Payment of dividend Monday, 7 October 2019
Shareholders may not dematerialise or rematerialise their shares between Wednesday, 2 October
2019 and Friday, 4 October 2019, both dates inclusive.
The dividend will be transferred to dematerialised shareholders' CSDP accounts/broker accounts
on Monday, 7 October 2019. Certificated shareholders' dividend payments will be paid to
certificated shareholders' bank accounts on or about Monday, 7 October 2018.
The final dividend, amounting to R12,2 million, has not been recognised as a liability in the
consolidated financial statements. It will be recognised in shareholders' equity for the year ending
31 May 2020.
It is the group's preference to continue declaring a dividend. However, future declarations will
continue to be evaluated in the context of the board's ongoing review of trading, growth prospects
and related business demands facing the company.
Prospects
Trading conditions for all group companies are expected to remain difficult for the foreseeable
future. However, our proven strategy remains unaltered. We will continue to focus on extracting
maximum efficiencies from existing businesses in order to protect and grow their individual market
shares in their respective niche markets. The executive maintains full confidence in the experienced,
stable business management teams with their proven entrepreneurial skills, and fully expects them
to continue guiding our businesses to ongoing growth despite difficulties in the economic
environment. Our tested business models have ensured that each group business is well-placed
within its respective market and is well-equipped to both withstand economic headwinds and to
exploit emerging opportunities.
OneLogix will continue to be mindful of start-up and acquisitive opportunities and will continue to
assess these appropriately. Our strong financial position and B-BBEE accreditation provide an
ideal springboard for the pursuit of ongoing growth.
Financial summary
Audited Audited
year year
ended ended
% 31 May 31 May
Notes change 2019 2018
Revenue (R000's) 19 2 740 092 2 310 112
Trading profit (R000's) 1 (5) 160 008 168 022
Net finance costs (R000's) (46) (22 117) (40 583)
Profit before taxation (R000's) (3) 128 761 132 298
Headline earnings (R000's) 9 91 153 83 950
Core headline earnings (R000's) 2 7 106 920 100 055
Per share measures
Basic and diluted basic earnings per share (cents) (29) 37,2 52,7
Headline and diluted headline earnings per
share (cents) 11 37,3 33,7
Core headline and diluted core headline earnings
per share (cents) 9 43,7 40,2
Net asset value per share (cents) 8 389,7 359,5
Net tangible asset value per share (cents) 11 324,2 291,9
Notes:
1. Operating profit adjusted for charges relating to equity-settled share-based payments and profit
or loss on sale of assets.
2. Headline earnings (as calculated based on SAICA Circular 4/2018) adjusted for the amortisation
charge of intangible assets recognised on business combinations and charges relating to equity-
settled share-based payments.
By order of the board
Ian Lourens Geoff Glass
CEO FD
29 August 2019
Directors
LJ Sennelo (Chairperson)*#
NJ Bester
GM Glass (FD)
AJ Grant*#
IK Lourens (CEO)
CV McCulloch (COO)
KV Ratshefola*#
K Schoeman*
* Non-executive
# Independent
Registered office
46 Tulbagh Road, Pomona,
Kempton Park
PostNet Suite 10
Private Bag X27
Kempton Park
1620
Company secretary
CIS Company Secretaries (Pty) Ltd
Rosebank Towers
15 Biermann Avenue
Rosebank
2191
PO Box 61673
Marshalltown
2107
Transfer secretaries
Computershare Investor Services (Pty) Ltd
Rosebank Towers
15 Biermann Avenue
Rosebank
2191
PO Box 61051
Marshalltown
2107
Sponsor
Java Capital
6A Sandown Valley Crescent
Sandton
2196
Date: 29/08/2019 07:05:00
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