Schroders urges companies to move away from quarterly reporting

Writes to FTSE-350 companies

Schroders has written to the chairs of every FTSE-350 company in which it invests to encourage them to step away from quarterly reporting and instead focus on longer-term performance.

Last year, the Financial Reporting Council removed the mandatory requirement for companies to issue financial reports every three months, although few chose to take advantage of the new rules. According to Sky News, Schroders' letter was written by head of investment Peter Harrison (pictured) and said companies which revert to reporting half-year and annual results would have its support. The asset manager thinks that while quarterly reporting is important for companies whose financial status changes on a quarter-by-quarter basis, for long-term investors the process can be time consum...