Presenting our report

Reporting suite and principles

We are committed to reporting transparently to our stakeholders while continuing to improve the quality of our disclosures. We are aware that further improvements are possible, and we invite feedback to be sent to investorrelations@famousbrands.co.za.

This 2022 Integrated Annual Report (IAR or this report) is our primary report to stakeholders. The report covers the 2022 financial year from 1 March 2021 to 28 February 2022. The report addresses the performance of Famous Brands Limited (Famous Brands or the Company), its subsidiaries (together referred to as the Group), and its associates in all territories where the Company operates, namely South Africa (SA), the rest of Africa and the Middle East (AME) and the United Kingdom (UK).

The scope of this report covers our core operations’ financial and non-financial performance. We report on strategy, the six capitals on which we rely and impact, and the opportunities, risks and outcomes attributable to or associated with our key stakeholders, who significantly influence our ability to create value.

For the most part, unless stated otherwise, statistics in this report relate to the SA business (excluding our associates). Statistics related to a specific geographic territory are denoted as such.

Materiality of information included

This report provides information on all matters we believe are material to our value creation process. Our operating context, the legitimate interests of our key stakeholders and our key risks were considered in determining information deemed material for inclusion in this report.

We define strategic matters as those which are most material to our formulation and execution of strategy and those that have the potential to significantly affect our ability to create stakeholder value and contribute to the future sustainability of the Group.

Reporting frameworks and compliance

This report was prepared according to relevant regulations, standards and best practices. Famous Brands aligns its reporting with the following reporting requirements and principles:

• The Value Reporting Foundation’s Integrated Reporting <IR> Framework 2021.
• King IV Report on Corporate GovernanceTM for South Africa, 2016 (King IV)¹.
• International Financial Reporting Standards (IFRS) and the International Financial Reporting Interpretations Committee’s (IFRIC) Interpretations.
• The Companies Act, No. 71 of 2008, as amended (Companies Act).
• The Johannesburg Stock Exchange (JSE) Listings Requirements.

Board responsibility statement

The Board, assisted by the Audit and Risk and Social and Ethics Committees, acknowledges its responsibility for ensuring the integrity of the IAR and has applied its collective mind in the preparation thereof. The Board believes that the report has, in all material respects, been presented according to the Value Foundation’s <IR> Framework and addresses the Group’s material matters.

The Board authorised this report for release on 23 June 2022.

Santie Botha

Independent Chairman

Darren Hele

Chief Executive Officer

Assurance obtained

The Group’s combined assurance model leverages the assurance obtained from management, internal and external assurance providers, while a strong ethical environment and internal controls ensure compliance.

We rely on our internal controls and management review to assure our internal financial and operational information. We are audited by KPMG, who signs off on an independent audit opinion on the financial statements. Our broad-based black economic empowerment (BBBEE) certificate is verified by Honeycomb BEE Rating. Our annual greenhouse gas emissions are assessed and verified by The Carbon Report, a division of sustainable IT®.

The IAR, Group Annual Financial Statements (AFS), Notice of Annual General Meeting (AGM), and other financial results-related information are available online at famousbrands.co.za.

Forward looking statements disclaimer

This report contains forward looking statements, which are based on assumptions and best estimates made by management regarding the Company’s future performance. Such statements are, by their nature, subject to risks and uncertainties, which may result in the Company’s actual performance in future being different from that expressed or implied in any forward looking statements. These statements have not been audited by the Company’s external auditors.

The Company neither accepts any responsibility for any loss arising from the use of the information contained in this report nor undertakes to publicly update or revise its forward looking statements.

Icons used in this report

Business processes and activities

We have included icons to refer to our four main business processes and operating activities.

Our business process and activities are explained in our business model.

Key strategic matters

	Improving our operational efficiencies
	Enhancing our financial performance
	Prioritising our franchise partners
	Developing our people; ongoing commitment to transformation
	Leading in the categories we compete in
	Optimising capital management
	Ensuring regulatory compliance

We track our performance against strategy with key performance indicators from our seven key strategic matters.

Our key strategic matters are explained in more detail.