Welcome to Tsogo Sun
ABOUT THIS REPORT
Reporting approach
We are pleased to present our integrated annual report to our stakeholders. This report is primarily written for our shareholders but it is also helpful to our other stakeholders interested in our ability to ensure a sustainable business into the future. This report provides a consolidated review of our financial, economic, social and environmental performance on matters material to our strategy, our ability to create and sustain value and of interest to our key stakeholders.
The financial and other information has been prepared in accordance with the requirements of IFRS, the South African Companies Act 2008, the JSE Listings Requirements, King III and the international <IR> framework as applicable. The sustainability information included in this report has been guided by the GRI guidelines.
The group is continuously improving its combined assurance model. Assurance for elements of this integrated annual report has been provided through a combination of external and internal sources which will become more formalised in line with future guidance from the IIRC. Our internal auditors, KPMG, provided us with guidance regarding the principles and practices around King III and integrated reporting.
Scope and boundaries
The contents of this document address material issues for all our subsidiaries, associates and joint ventures and covers the period from 1 April 2014 to 31 March 2015 except where material transactions have occurred post-year end. The process we utilised in determining and applying materiality is included in the Our materiality, material risks and opportunities section of the report. Non-financial disclosures, except for environmental disclosures, focus on the South African operations, which generate 95% of our earnings. The scope and boundaries of environmental disclosures are defined in the Deliver to our beneficiaries section.
Financial statements
We have provided summarised financial statements in the integrated annual report. The full set of consolidated annual financial statements, including the report from our audit and risk committee and directors’ report, are available online or can be requested directly from our Company Secretary.
Board approval
The board, assisted by the audit and risk committee, is ultimately responsible for overseeing the preparation, presentation and integrity of the integrated annual report. This was achieved through the setting up of a sub-committee of the audit and risk committee to oversee the reporting process. The directors confirm that they have collectively reviewed the output of the reporting process and the content of the integrated annual report. The directors believe that this integrated annual report addresses the material issues and is a fair presentation of the integrated performance of the group in accordance with the international <IR> framework, and therefore approve the report for release. We welcome any feedback at investors@tsogosun.com.
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Forward looking statements
Certain statements in this document may constitute ‘forward looking statements’. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Tsogo Sun Holdings Limited and its subsidiaries to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document, or to reflect the occurrence of anticipated events. These have not been reviewed or reported on by the group’s auditors.