Nordic corporate reporting improves, but still work to do
(Thomson Reuters ONE) - Black Sun's comparative analysis of Annual Report's from the top 50Nordic companies and the FTSE 100 has concluded that the standard ofcorporate reporting has again improved this year, though there arestill areas where many companies need to address the quality ofdisclosure.Among Nordic companies, the demand for better quality narrativereporting has only recently begun to gather pace due to the impact oflegislative, competitive and economic factors. Consequently we areseeing a significant range in terms of the caliber of AnnualReporting relative to the UK, as companies begin to embrace the newdisclosure regime.This being said the quality of contextual market information providedby Nordic companies is, on the whole, more informative and relevantthan in UK Reports and this discussion is often supplemented by anassessment of what impact macro-economic factors may have onoperations in the future. Disclosures around strategy were alsobetter than in previous years with 76% of companies outlining theirbusiness objectives (up from 68% in 2008).Despite these improvements, some of the discrepancies between UK andNordic reporting which were noted in the 2008 study have resurfacedagain this year, most notably in terms of reporting performancemeasures, where Nordic companies adopt a slightly more inconsistentapproach relative to their UK counterparts. In particular, there is alack of consistency among Nordic companies in terms of how keymeasures are indentified and where in the Report they are located. Inthe UK however, the majority of companies use the terminology 'keyperformance indicator' and display these measures alongside strategicobjectives. This ensures comparability and provides investors with aclear sense of how strategy is measured - something which has becomea key issue over the last 12 months or so. In addition, there stillremains a gap between the best and worst reporters from both regionsas companies adopt different approaches to more enhanced disclosure,though some notable exceptions to this rule include TrygVesta andCarlsberg who have both looked to embrace the high standards adheredto by the better Reports within the UK.Black Sun CEO, David Christopherson comments, "During theseunprecedented times of economic upheaval, many of the assumptionsthat have shaped investor decision-making in the past are beingchallenged and consequently there are more demands by investors andother stakeholders about the quality and integrity of information."He continues, "Companies need to react to this changing environmentand provide their investors with a clear discussion of both long andshort term strategy, in addition to more contextual detail around;how performance is measured, what risks could impact future resultsand how a company is structured to weather the downturn and emergestronger as a result." - ends -For further information please contact:David Christopherson, CEO: christophersond(at)blacksunplc.com tel: 0207736 0011Claire Waters, Marketing Manager: cwaters(at)blacksunplc.com tel: 0207736 0011Notes to EditorsBlack Sun plc is an award winning international corporate reportingconsultancy and communications agency.It has a unique research and insight driven approach which enablesthem to bridge the gap between the legal and regulatory aspects ofcorporate reporting and the content and creative elements ofcommunication.Black Sun plc delivers 'integrated reporting solutions' thatencompass a powerful combination of best practice advice on strategy,creative, and multi-channel delivery, through annual reports, CSRreports, online reports, investor presentations and corporatewebsites.Clients include: BAE Systems, BG Group, Burberry, Carlsberg, DTZHoldings, Kazakhmys, Standard Chartered Bank and Tullow OilRecent awards include:BG Group 2008: Thomson Reuters Award for, "Best Annual Report forInvestors"Legal & General 2008: UK IR Society Award for, "Best practicecommunications print and online"NMLK: 2008 Expert RA for, "Best Annual Report" (Russia) and 2008Securities Market Journal for, "Best level of information disclosure"in Annual Reports (Russia)Tullow Oil: 2008 UK IR Society for, "Most improved Annual Reports"This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 06.08.2009 - 16:56 Uhr
Sprache: Deutsch
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