Profits could fall as much as three quarters amid a sluggish economic environment in which it is difficult to recover costs, the logistics group says
Freight and logistics group OneLogix warns its headline profit could fall three quarters in its year to end-May, hit by a litany of issues, including rising costs, riots in KwaZulu-Natal and persistent violence on SA’s roads.
Headline earnings per share are expected to fall by between 55% and 75% to as low as 2.8c to end-May, OneLogix said in a trading update on Monday, adding that it has become increasingly costly to conduct a logistics business in SA, primarily due to the inability to recover various rising costs from its value chain...
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