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About this report
How to read this report
The Bidcorp annual integrated report for the year ended June 30 2017 reports consolidated information gathered from the global spread of the group’s divisions. Bidcorp’s geographic reach encompasses 34 countries on five continents. Due to the expanse of local geographic regulations, we only include limited material sustainability information in the annual integrated report. Additional information is available on request.
In line with the guidelines from the Integrated Reporting Committee of South Africa we have incorporated the relevant six capitals as a platform to inform this review. By using the Global Reporting Initiative (GRI) framework while striving for concise reporting, only information relevant to the specific Bidcorp environment is reported.
We stress that this report should be read together with the information available on the Bidcorp website (www.bidcorpgroup.com).
Financial performance
Bidcorp has, in addition to its actual audited results, provided shareholders with pro forma financial information in relation to the comparative year-end due to the unbundling from The Bidvest Group Limited in May 2016, to enable a full appreciation of the true performance of the group.
Assurance
To ensure the integrity of the annual integrated report, Bidcorp adopts a combined assurance model, which includes management, external audit, internal audit and other independent assurance providers.
Materiality
Our report focuses on issues which the board believes are material to stakeholders and could impact value creation in the business. We aim to demonstrate the connectivity between our business model, strategy and our risks and opportunities analysis. The material issues are monitored by management on an ongoing basis and have been reported herein.
Forward looking statements
The annual integrated report may contain statements regarding the future financial performance of the group and specific businesses, which may be considered to be forward looking statements. By their nature, forward looking statements involve risk and uncertainty, and although we have taken reasonable care to ensure the accuracy of the information presented, no assurance can be given that such expectations will prove to have been correct.
Board responsibility
It is the board’s responsibility to ensure the integrity of the annual integrated report. The audit and risk committee and social and ethics committee acknowledge their responsibility to ensure the integrity of this annual integrated report. The board has accordingly applied its mind to the content of the report and in the opinion of the board, believes it addresses all material issues and presents fairly the integrated performance of the organisation and its social and environmental impacts.
The annual integrated report has been prepared in line with best practice pursuant to the recommendations of the King IV Code. The Bidcorp board has authorised the annual integrated report for release on October 11 2017.
Feedback
We value your comments and suggestions, should you feel that there is important information that you would like to see included in future reports, please contact us on admin@bidcorp.co.za.