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Sixty-day ruling will be a struggle

Barely a third of the 250 largest UK quoted companies are announcing their preliminary results to the Stock Exchange within 60 days of their year end, a new survey reveals. A report by specialist design consultancy Merchant, shows that almost 30% take between 61 and 70 days to unveil their annual profits figures, while another third take up to three months.

New best practice guidelines say that companies should announce their prelims within 60 days.

The report also found a strong correlation between the size of the shareholder base and the likelihood that a company will issue a summary financial statement (SFS) to its investors. Those with more than 110,000 shareholders are more than seven times as likely to issue an SFS than those with fewer than 40,000.

Communicating corporate performance successfully, The Merchant Handbook 1998, (0171) 242 1336 (£25)

See: Insight: Prelims, page 9; Annual reports survey, page 25; Feature, page 35.

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