Irish IROs are holding their own in a challenging market, according to IR magazine’s Investor Perception Study, Ireland 2008.
More than 80 analysts and portfolio managers were surveyed on the state of Irish IR, and although responses were more mixed compared with previous years, 71 percent said they were happy with access to management and market commentary provided, while 63 percent expressed satisfaction with the level of information they receive on company performance.
Speaking at the launch of the study, Kevin Egan, PricewaterhouseCooper’s assurance leader, said:
‘In today’s capital markets the need for robust communication with investors is more important than ever. Investors need to be presented with a clear and easily accessible picture of both historical and likely future performance if they are to properly assess and value a company. It is clear from this survey the companies that provide this information to investors put themselves in a much stronger position to attract capital.’
Fay Sanders, IR magazine's international editor, added 'Ireland clearly remains at the forefront of European investor relations in terms of excellence. However, today’s turbulent market conditions are putting extra demands on Irish IR to outperform its peers, as the slowdown presents additional challenges for Irish companies.’
Irish IROs continue to outshine their European counterparts
As in previous years, Irish IROs outshone their European counterparts in many respects, with UK respondents saying Irish companies in particular have increased their focus on communicating with investors. However, with the volatile market in 2007, it was widely recognised that the job of the IRO has become more difficult over the last year.
According to one respondent, ‘Irish IR is as good as the IR from equivalent sized companies in the UK, and arguably better than equivalent European companies.’ Another said, ‘IR generally in Ireland has always been very good and all through last year’s problems, I never felt we were anything other than properly treated.’
Quality of information
All the news was not good, however. Some respondents felt the quality and amount of information they received had deteriorated with the market. Furthermore, some commented that the amount of overall information provided by companies had decreased significantly in the second half of 2007.
Guidance on future prospects
Where guidance on future prospects was concerned, over half (53%) of respondents said they are getting sufficient guidance, with some commenting that this level of guidance in certain instances had declined over the last six months. There remains a call for companies to have a greater focus on IR in 2008 as the full effects of the Irish market’s slowdown become clear.
Investor relations awards
As part of the study, investors were also asked to vote for the leading companies in the field of investor relations in specific categories to determine the winners of the IR Magazine Ireland Awards 2008. The winners will be announced at a black-tie gala dinner in association with PricewaterhouseCoopers on April 10, 2008, at the Four Seasons Hotel in Dublin.
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Notes to editor
The survey, carried out by UK-based Mary Maude Research, conducted interviews with buy-side and sell-side analysts as well as portfolio managers in Ireland, Europe and North America during January 2008.
The awards are in association with PricewaterhouseCoopers, supported by the Irish Stock Exchange and sponsored by AXIS IR, Business Wire, Davy, Financial Dynamics, Hugin, K Capital Source and Thomson.
About the awards
The IR Magazine Ireland Awards, now in their sixth year, celebrate the best in Irish investor relations. Winners of the awards are selected through independent surveys of investment professionals and retail investors.
The IR magazine investor perception studies together make up the world’s largest survey of this kind, canvassing over 5,000 analysts and investors in more than 14 countries and regions. Survey respondents nominate companies in specific categories and offer their opinions on IR-related topics and trends. For more information on the study, please contact Kate Giblin at IR magazine on +44 20 7251 7520.
About Cross Border Ltd and IR magazine
Cross Border Ltd is the publisher in New York and London of IR magazine, the only global publication focused on the interface between companies and their investors. IR magazine hosts annual awards ceremonies in the US, the UK, continental Europe, Canada, the Nordic region, Asia, Brazil and Ireland, with a combined annual attendance of around 8,000 investor relations professionals. Visit www.thecrossbordergroup.com for more information.
About PricewaterhouseCoopers
PricewaterhouseCoopers (www.pwc.com/ie) provides industry-focused assurance, tax and advisory services for public and private clients. More than 146,000 people in 150 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders. PricewaterhouseCoopers refers to the member firms of PricewaterhouseCoopers International Limited, each of which is a separate legal entity.
PricewaterhouseCoopers is proud to have been selected as the 2008 Best Company to Work For in Ireland.
