We are pleased to present Sun International Group’s Integrated Annual Report for the year ended 30 June 2014. This report is aimed primarily at our shareholders who are the providers of financial capital. However, we believe that it is of value to all our stakeholders given that their needs and interests inform the five strategic priorities that form the basis of the Management review set out here. The process of defining our strategic priorities and the initiatives and objectives within them is broadly consultative, both with internal and external stakeholders. The strategic priorities thus reflect the most material short- and medium-term initiatives and objectives that will enable the Group to achieve its vision and strategic intent, in its pursuit of long-term value creation for all stakeholders.
Our five strategic priorities form the integrated strategic narrative structure of the Management report, and are the product of our efforts to embed integrated thinking throughout our business. The board reviews, and if necessary amends and approves the Group strategy annually, which then forms the basis for measuring the performance and reward of the Chief Executive. The Chief Executive delegates responsibility for specific objectives under each priority down into the organisation. The performance contract of each member of the executive and senior management team is aligned to these delegated responsibilities.
In making this Integrated Annual Report more focused and concise, we have confined its content to issues that are deemed most material to an assessment of our value creation ability. Our online platform, which can be accessed at ir.suninternational.com, includes the content of this report with additional statutory and other reports, including our annual financial statements, governance and risk reporting, and additional sustainability content. For a full list of information available online, see the menu above.
The scope of this report includes all of Sun International’s subsidiaries and operating units. We have continued to embed management, sustainability and governance-related reporting systems and processes in our operations. The lessons we learn in implementing these systems are applied to our new operations as we continue to expand our operational footprint internationally, which will contribute to improving our internal and external reporting over time.
The International Integrated Reporting Council released the International Integrated Reporting (<IR>) Framework in December 2013. We have taken into consideration the <IR> Framework’s guiding principles in the preparation of our 2014 Integrated Annual Report, and have made a start in applying the content elements set out in the <IR> Framework. We will continue to apply the <IR> Framework and other local and international best reporting practice in the preparation of future reports.
The Integrated Annual Report is prepared in accordance with the JSE Limited Listings Requirements and the South African Companies Act, No. 71 of 2008. A register of our application of the King III governance principles is available online. The Group and Company annual financial statements follow International Financial Reporting Standards (IFRS).
As an international leisure group, we contribute directly to the economies of the countries in which we operate. This contribution includes investments and the paying of rates, taxes, levies and fees, as well as salaries, wages and local procurement. We also contribute at a local level through training and development programmes for our employees, and provide benefits that positively impact their families and communities. Our awareness of our responsibilities to all our stakeholders finds expression not only in our business performance and the application of our business ethics but also in our efforts to help create sustainable societies around us.
In applying the guiding principle of strategic focus and future orientation in our reporting, this report contains forward looking information that reflects the Group’s assumptions, ambitions and expectations going forward. As these are subject to change in accordance with macroeconomic, strategic or operational developments, investors are cautioned not to place undue reliance on forward looking statements contained in this report.
The Group’s 2014 Integrated Annual Report satisfies the requirements of the Global Reporting Initiative (GRI) guidelines at a B+ level.
We welcome stakeholders’ feedback on our reporting, which can be sent to email@example.com