Basis of preparation and accounting policies

The Summarised Consolidated Financial Statements for the year ended 30 June 2017 are prepared in accordance with the requirements of the JSE Listings Requirements for preliminary reports and the requirements of the Companies Act. The JSE Listings Requirements require preliminary reports to be prepared in accordance with the framework concepts and the measurement and recognition requirements of IFRS and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 – Interim Financial Reporting.

The accounting policies applied in the preparation of the Summarised Consolidated Financial Statements are in terms of IFRS and are consistent with those applied in the previous Annual Financial Statements. The definitions of capital items, core headline earnings and related adjustments are included in the accounting policies in the June 2017 Annual Financial Statements. There were no standards and amendments to standards with a material impact on the Summarised Consolidated Financial Statements that are relevant to and became effective for the first time in Super Group’s financial year commencing 1 July 2016.

The Summarised Consolidated Financial Statements are extracted from the Annual Financial Statements, but are not audited. The Annual Financial Statements have been audited by KPMG Inc., who expressed an unmodified opinion thereon. The Annual Financial Statements and the Independent Auditor’s Report thereon are available for inspection at the company’s registered office. The directors take full responsibility for the preparation of the Summarised Consolidated Financial Statements and the financial information has been correctly extracted from the Annual Financial Statements.

The Independent Auditor’s Report does not necessarily report on all of the information contained in this report. Shareholders are therefore advised that in order to obtain a full understanding of the nature of the auditor’s engagement they should obtain a copy of the Independent Auditor’s Report together with the accompanying Annual Financial Statements from the issuer’s registered office.

The Summarised Consolidated Financial Statements are presented in Rand, which is the company’s functional currency and the Group’s presentation currency, rounded to the nearest thousand.

 

NOTES TO THE SUMMARISED CONSOLIDATED FINANCIAL STATEMENTS

Important notice

For the comprehensive notes to the Annual Financial Statements, please refer to the Annual Financial Statements published on www.supergroup.co.za. Please also note that the references to the notes in the Summarised Consolidated Financial Statements correspond to the notes in the Annual Financial Statements to ensure the consistent use of the notes.