Quarterly reporting is falling out of fashion among FTSE 350 companies.
Today only 43 members of the FTSE 100 still update the market of their progress four times a year, a 19% decline since October 2016.
The fall in the second tier is deeper with only 167 members of the FTSE 250 releasing their results and issuing guidance for each quarter.
These figures will please the Investment Association, which has been campaigning for executives to focus on longer-term strategies instead of quarterly targets. The idea behind the organisation’s action plan is to help boost productivity through making long-term investment decisions.
Investment Association chief executive Chris Cummings said the UK’s productivity puzzle is one of the biggest challenges of our generation.
“Solving it is crucial to closing the gap with our major international rivals and to helping the UK become more competitive on the global stage,” he added.
‘Stronger, more productive businesses are more likely to deliver the long-term investment returns for the millions of people whose savings and investments are managed by our industry.”
