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Mar 31, 2000

Feeding the five thousand

Searching for an annual report recipe to satisfy a wider audience

Constructing annual reports should be as easy as baking a cake. Get the trusty ingredients of accounting detail, a chairman's statement, some blurb about strategy. Mix together and add some flavor via a glossy cover, a smile-inducing strap-line and metaphor-laden photos of speeding trains and mountaineers. Then serve it up. Easy.Things get trickier, though, when other parties want cake. Sure, big companies can afford to produce individual gateaux for different audiences - prospectuses for

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