ABOUT THIS REPORT
We are pleased to present our annual integrated report for the year ended 30 June 2016. Our integrated report presents the strategy, governance, performance and prospects of the Group. The report is aimed primarily at providers of financial capital, our employees, clients and business partners, although it is also likely to be of interest to a broader stakeholder readership, as it covers our relationships and interactions with entities broadly deemed to be material to our ability to deliver on our strategy.
This year’s integrated report does not include a review for the I&B platform, given that the platform is held for sale, subject to shareholder and regulatory approvals, in line with our strategic focus on global natural resources markets. The platform has been accounted for as a discontinued operation, and its performance during the year, as well as the rationale for the disposal, are discussed in the Group chairman’s statement and chief executive’s and financial director’s report.
Murray & Roberts defines material issues as those issues that substantively affect its ability to sustain its strategic, operational and financial performance, and those that are most likely to affect our stakeholders’ assessment of the Group’s ability to create value over time. The materiality determination process undertaken to focus our reporting considered the top issues that the Board and management dealt with during the year, the Group’s register of strategic risks, and issues raised through engagement with analysts and investors, business associations, non-governmental organisations or other civil society structures, as well as those reported on in the media. These issues were workshopped into six broad material issues and related sub-issues for the Group, as well as issues specific to each platform. The final step was to confirm these issues and discuss their inter-relationships with the Group executive. The material issues are comprehensively discussed throughout the report.
GROUP SUSTAINABILITY FRAMEWORK
This framework sets out our aspiration to operate in an ethical and sustainable way, and informs the Group’s approach to integrated thinking. The framework requires that we consider the views of our stakeholders in our strategic and operational decision-making, mitigate our risks in relation to our opportunities, apply best practice corporate governance, create and sustain value for our stakeholders, and manage our impacts in line with the principle of Zero Harm and the Precautionary Principle. The outcomes of these inter-related objectives link back to our stakeholders and complete the cycle of accountability and inclusivity that ultimately underpins our sustainability.
|A glossary of terms and acronyms used in this report is provided||Group sustainability framework||Stakeholders|
The printed report provides condensed financials with the full annual financial statements available online. The most material sustainability information is included in the platform reviews.
|Full annual financial statements|
The information included in this integrated report is provided in accordance with IFRS, the South African Companies Act 2008, the JSE Listings Requirements and King III. The Group complies with all 75 principles of King III. We have taken cognisance of the International Integrated Reporting Council’s Integrated Reporting Framework, published in December 2013, and subsequently adopted by the JSE Limited. We have applied GRI G4 guidelines for the first time to our sustainability reporting, which across the printed and online platforms meets the GRI G4 core level.
Our external auditors, Deloitte & Touche, have audited the annual financial statements and provided limited assurance over selected key non-financial performance indicators. Accredited rating agency, EmpowerLogic, has verified the Group’s BBBEE rating and scorecard.
The audit & sustainability committee, responsible for overseeing the preparation and presentation of the annual integrated report and ensuring its integrity, recommended it for Board approval, obtained on 22 August 2016.
|Group sustainability framework|
|Important information on forward-looking statements|