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| Hyde Park Corner, Johannesburg |
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More information can be found
elsewhere in the report |
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Further reading can be found
online: www.hyprop.co.za |
This integrated report covers the activities of Hyprop Investments Limited
for the financial year ended 30 June 2015, and follows a similar report for the
year ended 30 June 2014.
Hyprop continues to provide a comprehensive view of the company in one
integrated report, with supplementary information on our website. This
report identifies and explains the material economic, social, governance
and environmental issues facing the group and their impact. We regard this
report as a valuable opportunity to engage with our stakeholder groups and
respond to issues raised. The report should enable stakeholders to evaluate
Hyprop’s ability to create and sustain value over the short, medium and long
term.
Scope and boundary
The reporting on our sustainability initiatives covers the group holding
company and shopping centres in our sub-Saharan Africa portfolio (including
South Africa).
Material changes to the size, structure or ownership of the group during
the year included the sales of non-core assets: CapeGate Lifestyle Centre,
CapeGate Value Centre and Stoneridge. Effective 1 July 2014, all investments
in sub-Saharan Africa (excluding South Africa) are held through Hyprop
Investments Mauritius, a wholly owned subsidiary.
Reporting principles
The annual financial statements were prepared in accordance with
International Financial Reporting Standards (IFRS), the SAICA Financial
Reporting Guides issued by the Accounting Practices Committee and
Financial Reporting Pronouncements issued by the Financial Standards
Council, the JSE Limited Listings Requirements and the South African
Companies Act 2008. Accounting policies applied in preparing these financial
statements are consistent with those applied in the audited financial
statements for the prior financial period.
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| Canal Walk, Cape Town |
Hyprop has applied many of the recommendations in the International
Integrated Reporting Committee’s 2013 framework. We have also
considered and applied, where practical, the latest guidelines and
disclosure standards of the Global Reporting Initiative (GRI G4).
In this reporting period, Hyprop compiled its second submission to
the Carbon Disclosure Project (CDP), a voluntary and comprehensive
international benchmark on environmental reporting, and its second
submission to the Global Real Estate Sustainability Benchmark (GRESB).
Materiality
As detailed on our website, the board has considered matters
deemed material to the business of Hyprop and its stakeholders, and
addressed issues that:
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Have significant direct short, medium and long-term financial
impacts |
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Are agreed strategic policy items |
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Are peer-based norms |
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Are considered social norms, as indicated by current and likely
future regulations, and institutionalised norms and standards. |
Assurance
Hyprop’s external auditors, Grant Thornton, have audited the financial
statements for the year ended 30 June 2015. Their unqualified audit
report is available here. The scope of the audit was limited to information
in the financial statements. In line with best practice,
we take a combined view of our assurance activities to ensure all
material aspects are covered.
Board approval
The audit committee acknowledges its responsibility on behalf of the
board to ensure the integrity of the Hyprop integrated report 2015.
The committee has reviewed the report and believes it appropriately and sufficiently addresses all material issues, and fairly presents the
integrated performance of Hyprop, its subsidiaries, joint ventures and
associates for the period, within the scope set out above.
The board has approved this integrated report.
Pieter Prinsloo
Chief executive
officer |
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Laurence Cohen
Financial director |
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Lindie Engelbrecht
Audit committee
chairman |
Forward-looking statement
This integrated report contains forward-looking statements that, unless
otherwise indicated, reflect our expectations as at 30 June 2015. Actual
results may differ materially from the group’s expectations if known
and unknown risks or uncertainties affect its business, or if estimates
or assumptions prove inaccurate. The group cannot guarantee that any
forward-looking statement will materialise and, accordingly, readers
are cautioned not to place undue reliance on these statements. The
group assumes no obligation to update or revise any forward-looking
statement if new information becomes available, other than as
stipulated by the JSE Listings Requirements.
Contact point
We welcome your feedback on this report. Please direct this to:
Viki Jane Watson, Investor relations, +27 11 447 0090 or
investorrelations@hyprop.co.za
