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Growthpoint wins IAS award
![Stuart Snowball](https://biz-file.com/c/1206/105516.jpg)
Each year the IAS recognises the skills of listed companies that win awards for 'Best Communicating and Reporting'. This is the first time Growthpoint has received this recognition.
"As a listed property company, the company is aware of its responsibility to provide timely, accurate and meaningful information to the market. We are pleased that our governance, communication and reporting have been acknowledged by the analysts of the IAS," says Growthpoint financial director, Stuart Snowball.
"We consider analysts key stakeholders in our business. We know that providing information swiftly and accurately helps them do their jobs properly. This is essential because they are responsible for managing sizeable investments."
The company strives to be transparent in its reporting. A cornerstone of its business is good corporate governance, ethics and risk management. "We have an excellent track record of achieving our stated goals."
Besides communicating about its performance and prospects, offering market information on major transactions is important, especially when the deals represent new territory for the South African listed property sector or expand its sectors of investment. This was the case when the company invested in Australian Stock Exchange (ASX) listed Growthpoint Properties Australia and its recent purchase of 50% of the V&A Waterfront in Cape Town.
"It's important to share our investment strategies and rationales with the market. It creates insight into how transactions benefit stakeholders and improves our long-term sustainability," he adds.
The IAS plays an important role in the company's communication with analysts. Each year the company presents its half- and full-year results to IAS members. It also has many direct engagements with analysts, especially property analysts, ranging from meetings to property tours.
All this is supported by its marketing communications, such as its website, which provides a wealth of information about the company to all stakeholders. The amount of information compiled to provide market intelligence and the complexity of collecting it, checking its accuracy and presenting it in a clear, concise format can be an arduous process. However, it has developed internal resources to ensure all information is accurate and reliable.
"We also take note of information that analysts request and, where relevant, include this in our communications as a matter of course."
The move, over the past two years, to producing an Integrated Annual Review has been a natural one. "During this journey, we've been pleased to confirm that, in many instances, the company already applies best practice in the sustainability of our business for the long term financially and also environmentally, socially and in the society in which we live."
An IAS award signifies high esteem for those companies that hold them. It gives investors confidence in the quality of information provided for analysis of the company. Snowball notes this can also be helpful for international investors who are unfamiliar with the South African market.
"Quality communication and reporting has always been a key objective. We are eager to continue this at the highest level to ensure that analysts, fund managers, brokers and all stakeholders have access to the information they need," he concludes.
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