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BLUE LABEL INTEGRATED ANNUAL REPORT 2016
6
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 on pages 47
to 52).
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 the
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 <IR>
Framework and the GRI G3
Guidelines.
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.