Business overview

About this report

 

This integrated report analyses Tiger Brands' performance for the year to 30 September 2018 (review period), in the context of our external environment. It also illustrates our focus on ensuring our strategy and governance structures support our prospects for creating value over the short, medium and long term. Covering the review period, this is our primary report to all stakeholders. It should be read in conjunction with the supplementary sustainability report and annual financial statements.

In preparing our integrated and sustainability reports, we were guided by the International Integrated Reporting Council (IIRC) framework and GRI Standards, as well as recommendations in the King Report on Corporate Governance for South Africa (King IV™*).

The scope and reporting boundaries, as well as frameworks guiding content and independent assurance, are detailed in Boundary and scope.

Determining materiality

We start with issues in the prior year, the group risk register and views of our executive committee. These are combined with issues arising from a detailed assessment of our operating environment and stakeholder engagement, and clustered into logical themes, in line with our strategy, to provide a concise view of our material matters (with detailed disclosure in our online sustainability report, where relevant).

Approval

The audit committee and board acknowledge their joint responsibility for ensuring the integrity of the integrated report. After applying our collective minds, we believe this report addresses all material matters, and offers a balanced view of Tiger Brands' strategy and how it relates to the group's ability to create value in the short, medium and long term. The report adequately addresses the use of and impact on our capitals, as well as the way in which their availability affects our strategy and business model.

Khotso Mokhele
Chairman
Emma Mashilwane
Chairman – Audit committee

21 November 2018

* Copyright and trademarks are owned by the Institute of Directors in Southern Africa NPC and all of its rights are reserved.

Material matters for the review period

Weak macro-economic environment

Weak macro-economic environment

  Business continuity

Business continuity

  Human resources and skills

Human resources and skills

  Food security safety and quality; security of supply

Food security safety and quality; security of supply

Combined assurance

Business process   Nature of
assurance
  Assurance
provider
  In this report
Annual financial statements   External audit   Ernst & Young Inc.   The scope of this audit covers information in the annual financial statements and does not extend to any financial or operating indicators in the integrated report
Risk management and internal controls   Internal audit   In-house supplemented by
co-sourced service providers
  Risk management
Audit committee report
Environmental risk assessments   External audit   Marsh Proprietary Limited   Overview of non-financial performance
Social responsibility and sustainability   External audit     The group reports annually on its carbon emissions under the global CDP, with the completeness of data validated in this submission. www.cdp.net
Similar to the assurance provided for group risks, management will consider appropriate assurance for sustainability reporting as well as the acceptable level of coverage by external assurance providers in FY19.
In future, we will also report on the United Nations Sustainable Development Goals (SDGs) once we have mapped them for our entire value chain, and have the data to support reporting.
BBBEE   External verification   EmpowerLogic Proprietary Limited   Transformation