Value created
during the year

The outcome of our business activities include the internal and external consequences for our stakeholders and our resources, acknowledging that these can be positive or negative, and collectively result in the value that we create over time. The outputs and outcomes that created value during the past year for our stakeholders are summarised below.

Financial capital

Overall value for shareholders increased during the year as evident above.

Further information is provided in the Chief Financial Officer’s report while the detailed value-added statement is provided in appendix 6.

Physical footprint and infrastructure

TFG’s increased number of outlets now provides customers the opportunity to shop conveniently in more locations. Net space growth for TFG Africa was lower due to a focus on profitability per square meter, in line with our capital allocation model, and an increased digital presence, in line with our Growth strategic pillar.

The Group increased its manufacturing capacity following the opening of our Caledon factory in the prior year.

Further information is provided in our sustainability overview report.

Intangible and intellectual resources

TFG created increased value for customers through a more diversified offering supported by an optimised manufacturing capability which ensures in-season replenishment.

More customers joined the TFG Rewards programme earning increased benefits.

* Relates to TFG Africa only
Human capital

TFG increases human capital by providing stable employment and a supportive work environment. Employees benefit from increased investment in employee training and development which results in career path opportunities. More unemployed and inexperienced people are absorbed into the TFG talent pipeline through internships and learnerships creating more employable people within our community.

Staff turnover was lower, indicating a workforce that is well remunerated, supported and developed.

Further information on the Group’s reward and recognition is provided in the Remuneration Committee report.

RelationshipS and society

TFG increased relationship and society capital by supporting local communities and empowerment. Read more on our TFG Sew Good programme. The Group’s governance and values ensure that we create an ethical culture, deliver good performance, promote effective control and earn legitimacy through our engagement with all stakeholders.

Natural resources

Natural resources are precious and limited. As these resources decline, it becomes increasingly important to use these resources responsibly to ensure its sustainability, but also to limit the cost thereof to business. Our overall impact to natural capital is not fully replenished. The Group however limit its impact by monitoring its use, optimising its efficiencies to ensure we use the resources responsibly and that we continue to be a sustainable business. Read more on our water-saving initiatives and on our responsible resource initiatives in our sustainability overview report.

* Relates to TFG Africa only