PwC found that only a half of the 350 reports gave what the firms described as “meaningful insight in what really makes their business tick”.
According to the firm, the overall picture indicated a slight improvement year-on-year in the effectiveness of reporting, with the most excellent reporting not necessarily emerging from the largest companies, as the FTSE 250 demonstrated the strongest innovation.
"For many companies, there may not seem to be any quick fixes to shortcomings in their reporting," says PwC corporate reporting partner Charles Bowman. "We know many have found articulating their business model difficult. However, a start-up company lives or dies by how well they can articulate their business model and what they stand for – it seems that some larger companies have lost sight of this.”
He adds: “The best reporters aren't doing this out of a sense of altruism. They do it to communicate effectively with stakeholders and retain their trust.”
Click here to read the research in full.