Approach and reporting framework
APPROACH
This is Blue Label’s fifth integrated annual report, which continues to document the journey of our unique story, while sharing our integrated thinking as we implement an integrated strategy across the Group.
In following the recommendations of the King Code of Governance Principles for South Africa and the structure set out by the International Integrated Reporting Council’s framework, Blue Label’s process aims to link material Group information with reference to strategy, governance, performance, remuneration and prospects in such a way that our stakeholders obtain a view of the commercial, social and environmental context within which the Group operates.
This integrated annual report is the Group’s primary report. It covers the Group’s business segments and its financial and operational performance for the financial year ended 31 May 2015. Non-financial and sustainability information is limited to the South African operations, as the International distribution business comprises operating entities accounted for as associates and joint ventures.
The report contains issues material to our strategy and of interest to our stakeholders. Blue Label has mapped its stakeholders, in particular its relationship with its employees, providers of capital, the media, customers, business partners and suppliers, communities, educational institutions and government bodies. These stakeholder groupings receive more structured engagement processes than other groupings and the level of inclusivity with these stakeholders is correspondingly more integrated into the Group’s strategic thinking (refer to the stakeholder communication table on pages 54 to 59).
The integrated annual report provides a detailed understanding of the financial aspects of the Group’s business. The annual financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and the Companies Act of South Africa and includes the financial and Directors’ reports.
This report contains the notice of Annual General Meeting, proxy form and information to enable shareholders to exercise their vote on the resolutions to be put to the meeting.
Various supporting documents to the Group’s library of disclosure, such as results presentations, short-form advertisements and SENS announcements can be accessed via the website.
The Technology division has embarked on a multi-year programme to ensure consistent governance and compliance of required legislation across the Group. This encompasses the review and standardisation of all current policies, processes, procedures, standards and supporting technologies to ensure that this effort is repeatable, sustainable and measurable into the future. The ultimate goal is to achieve a number of industry certifications that will provide assurance to all stakeholders that the technology function is managed and governed effectively.
Ultimately, the report aims to provide stakeholders with the means to assess the Group’s ability to create and sustain value over the short, medium and long term.
REPORTING FRAMEWORK
This report has been compiled considering the requirements of King III, the principles of the International <IR> Framework and the GRI G3 Guidelines.
Blue Label uses a risk-based model which identifies internal risks and stakeholder issues to determine the material content of the report. Although Blue Label has not declared a GRI “in accordance level” in this year’s report, we continue to consider our transition to “in accordance core” in future years.