When we surveyed the opinions of readers on last year's Top Companies, we were amused by one of the responses: "I'm surprised that you care what I think."
Well, that's what it's all about. Top Companies is the ultimate resource for readers who are interested in SA's corporate world, and we want to keep it that way. Based on your comments, we have made some fundamental changes to a 36-year-old formula with this year's issue. We've focused on three principal areas: the winners of the FM's Top Companies of the year awards; the SA Giants list of the biggest companies; and the Top Performers list of companies offering the best returns to shareholders.
Along the way we analyse the economic drivers and industry trends that made all the difference to listed companies.
We also introduce a new level of complementarity between the Top Companies website, www.topcompanies.co.za, and the print edition. Far more data is now available in the whole package than before. The website holds data for every listed company, across a wider range of criteria, than we publish here. If you're looking for complex detail, such as balance sheet structures, the website is the place to go.
In the print version we also undertake a comparative analysis of the key JSE sectors. We look at the challenges facing industries and the most profitable companies in each.
Because investors don't only access the JSE directly, we have considered other investment vehicles too, such as unit trusts and asset managers responsible for retirement funds, and the economic outlook for investors.
Listed companies also rely on a range of service providers, which we cover in a separate section. Here we confront the challenges facing attorneys, accountants, medical aids and listing sponsors as they try to provide a top service to JSE companies.
The main research is independently conducted by the University of Pretoria's Bureau of Financial Analysis (BFA). The BFA goes to great lengths to capture the data of every listed company, and goes beyond the glossies to standardise data for meaningful comparisons. All annual reports received by the end of April made the cut-off for data inclusion. Company market caps are as at the end of April, and share price performance is reflected as at December 2002.
Research on who serves the listed companies is done by I-Net Bridge through a survey of companies and providers.
Altogether, you have a thorough examination of SA's large corporate world. And one that is completely independent from advertisers or the companies themselves. Journalists are given editorial independence in their analysis . Unfortunately, there are other company rankings out there that cannot say the same.
Please let me know what you think of the result.
- E-mail: theobalds@bdfm.co.za
