8 / 248
6
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
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.
APPROACH AND REPORTING FRAMEWORK