Approach and reporting framework
Approach
This is Blue Label’s sixth integrated annual report, which continues to document the journey of our unique story, encompassing how the entrepreneurial Levy brothers envisioned and then built a business which listed on the JSE as Blue Label Telecoms Limited in 2007. Simultaneously, the report shares with stakeholders Blue Label’s integrated thinking as it implements 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 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 2016. 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).
The integrated annual report provides a detailed understanding of the financial aspects of the Group’s business. The annual financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and the Companies Act of South Africa.
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 meeting. This year the notice and other related disclosures were condensed into a booklet for physical distribution to shareholders at their request. The traditional integrated annual report is still produced and is available for viewing and download via the website.
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.
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 in line
with the requirements of King III, the
principles of the International
Blue Label utilises a risk-based model which identifies internal risks and stakeholder issues, in order 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.