LANDSEC TOPS LIST OF BEST ANNUAL REPORTS FOR THIRD TIME
In its 13th year, the annual ‘How does it stack up?’ report keeps property management company LandSec in the top spot for the third time.
In its analysis of FTSE 100 companies’ annual reports, Radley Yeldar’s 2019 review measures the success of these companies’ ability to convey their brand favourably within a frequently unstable environment.
Against a backdrop of changing criteria for annual reports, and with the looming ambiguity of a post-Brexit business landscape, the importance of companies’ strategic reports cannot be overstated. As investor engagement consultancy director at RY, Brett Simnett, says, “The new European Single Electronic Format (ESEF) is also one year away from coming into law. With the general uncertainty around Brexit, companies need to focus on setting out their long-term viability and how they bring value to the wider community.”
In compiling the review, RY has been mindful of updates in the FRC’s Corporate Governance Code, which come in to affect this year, and encourages companies to conduct themselves in a way that “…promotes the importance of establishing a corporate culture that is aligned with the company purpose, business strategy, promotes integrity and values diversity.”
LandSec, joined in the top three by Mondi and BT group, share some key characteristics in their reports, principally in their success within RY’s ‘effective storytelling’ category. Despite taking the form of basic PDF, these reports are easily navigable and largely free form impenetrable corporate jargon. BT provide the option of an interactive slideshow, as well as the option to download only certain sections, while LandSec places the emphasis of their report on their achievements in the community. The trend is certainly geared towards clarity and transparency, communicating strong brand values as well as reporting facts and figures.
It is the successful blend of these actors that has been celebrated in this year’s review. Certainly for LandSec, consistency has been rewarded with longevity at the head of the pack.
RY assesses 15 criteria over four key categories: understanding of the business, explaining and measuring performance, sustainability and effective storytelling. The challenge of excelling on all of these fronts can be demanding.