An answer to the question posed here yesterday about clashing results. Too many land on the same day, it’s bad for all involved, I argued.
Flaks share my frustration and seem to (mostly) blame the boards.
There is only a short window to report results and when it comes to summer interims, of which there were a glut this week, management want to get them out of the way so they can go on holiday.
A reader writes: “It is not just exec management diaries you need to plan around but also the Board meetings, and the audit committee, which signs the results off. In my experience these are normally stuck in the diary by Company Secretariat 12 months in advance. As most non-execs are multi-boarded, and often flying in from all around the world, getting them to change their diaries is a non-starter. I couldn’t even persuade our company secretary to raise the subject of date changes with the Board.”
I take the point and I can see that the flaks aren’t to blame. But big companies at levels well above the PR department complain that the press don’t give them proper coverage. Those under reported companies could surely try a bit harder not to release results on the same day as everyone else
**TB is taking its usual summer break. We shall return, with vengeance, in September. See you then.**