The way in which FTSE 350 companies report their business has improved from the point of view of legislation, but not of promotion, a new study has found.
Companies were not choosing to disclose information that would be useful or essential to investors, PricewaterhouseCoopers (PwC) claimed.
The study said 75 per cent of companies were complying with legal requirements in their narrative reporting and clearly indicating their principal risks and uncertainties, vnunet.com reported.
However only 35 per cent of companies support strategic statements with qualitative or quantitative targets, the data revealed.
Senior corporate reporting partner at the
Big 4 firm David Phillips said that if companies did not provide this information routinely "they are more likely to find themselves in the unenviable position of having their reporting challenged by the market and other observers".
He added: "At the end of the day, box-ticking compliance alone will not be enough for investors."
PwC employs about 15,000 partners and staff nationally.
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