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PERFORMANCE REVIEW
24
Tiger Brands Limited Integrated Annual Report
2014
Reports to stakeholders
Lastly, the report also contains the necessary
information that will enable the reader to
have comfort in the group’s efforts in
addressing inherent business risks, thereby
ensuring long-term sustainability.
Environment
The international economic environment
remained unsettled, and while signs of
recovery were evident in selected regions, the
South African economy, where Tiger Brands
makes the bulk of its profits, substantially
underperformed the rest of the continent,
thereby placing severe pressure on personal
Dear stakeholders
It gives me much pleasure to update you on
the performance of your company for the year
ended 30 September 2014, and to inform
you of progress made in implementing Tiger
Brands’ strategy over the period under review.
In addition, the objective of this Integrated
Annual Report is to provide all our stakeholders
with a clear understanding of Tiger Brands’
focus on ensuring that it is a responsible
company when it comes to environmental
issues, whilst also assisting those less fortunate
members of society.
Chairman’s letter to stakeholders
André Parker
Chairman
Despite tough trading
conditions, the company
achieved a pleasing
performance by improving
headline earnings from
continuing operations to
1 804 cents, an increase
of 15% over the
previous year.