Our reporting approach
The 2017 SPAR integrated report reflects our full transition to digital reporting as a way to increase access, usability and transparency for all our stakeholders.
We aim to provide our readers with a broad understanding of the group’s past performance in the context of the external environment, demonstrated through a wide range of activities, interactions and relationships.
This should enable you to gauge the prospects and future trajectory of SPAR’s value creation abilities.
THE SCOPE AND BOUNDARY OF THIS REPORT
This report covers the activities of The SPAR Group Ltd (SPAR or the group) from 1 October 2016 to 30 September 2017.
Financial and non-financial information was provided for the Southern African, Irish and Swiss operations, with as much comparability as possible. As BWG Group and SPAR Switzerland are further integrated into the group, the extent and depth of non-financial reporting will improve.
It is important to distinguish between the JSE-listed company, SPAR – primarily a warehousing and distribution business – and the operations of our independent retailers, which are governed by The SPAR and Build it Guilds.
Both guilds are non-profit companies. We explain SPAR International, the guilds and the voluntary trading model here.
No significant events during the 2017 financial year impacted the comparability of historical information in this report.
THE REPORTING FRAMEWORKS AND GUIDELINES THAT WE USED
We determined the content of this report by considering previous reports, as well as the following frameworks and regulations for financial and non-financial reporting:
- International Financial Reporting Standards (IFRS)
- The Companies Act
- JSE Listings Requirements
- Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice of the Department of Trade and Industry (dti)
- The International Integrated Reporting Council’s <IR> Framework
- The Global Reporting Initiative’s (GRI) Standards
- The Climate Disclosure Project (CDP)
HOW WE APPROACH THE SIX CAPITALS
We use the <IR> Framework as a reporting guideline and agree with the use of the six capitals as a way to ensure holistic, balanced reporting that considers more than just the creation of financial capital.
We also recognise that we use, transform, deplete and renew these capitals in our business activities.
Although we have elected to not structure or report according to the definition of the six capitals explicitly, references to and detailed explanations of the resources and relationships that we affect – along with their interconnectedness and dependencies – are included in this report.