Scope of the report and assurance
Naspers has reported annually to stakeholders on its non-financial performance since 2008. This is, however, our first integrated annual report – combining financial and non-financial performance for a fuller understanding of our group. It covers the financial year from 1 April 2010 to 31 March 2011.
The report has been prepared using the guidelines of the Global Reporting Initiative (GRI G3) and the recommendations of the latest King Report on Corporate Governance in South Africa (known as King III).
Integrated reporting is a new discipline and global standards are still being developed. Until such time, we are guided by peer practices globally. Our aim is incrementally improved reporting and disclosure, while protecting the long-term sustainability of our group in a highly competitive sector. Feedback can be communicated directly to firstname.lastname@example.org. This report includes the financial performance of the Naspers group and its subsidiaries, joint ventures and associates. The scope of reporting on non-financial performance covers the holding company, managed media operations in South Africa (Media24), managed pay television businesses in South Africa and Nigeria (MultiChoice), managed internet operations in Latin America (BuscaPé) and Central and Eastern Europe (Allegro). Together these account for 80% of group revenue.
We are concentrating on developing group reporting standards that will make our disclosure increasingly meaningful and measurable for stakeholders. Generally, detailed forward-looking information is not provided.
In terms of GRI reporting requirements Naspers has met the requirements and self-declared this report at level C.
The financial information extracted from the audited Naspers Limited consolidated annual financial statements for the year ended 31 March 2011 has been correctly quoted in this integrated annual report. Refer to page 132 for PricewaterhouseCoopers Inc.’s report. The South African broad-based black economic empowerment information was verified by Empowerlogic (MultiChoice) and CODEX (Media24).
The report may contain forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995.
Words such as “believe”, “anticipate”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavour” and similar expressions are intended
to identify such forward-looking statements, but are not the exclusive means of identifying such statements. While these forward-looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These include factors that could adversely affect our businesses and financial performance. We are not under any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.