In a study of the statements by Deloitte, the firm found that only half gave analysts any information on finances, despite it being a requirement of the UK Listing Authority rules on the releases.

For accounting periods beginning on or after 20 January 2007, new rules came into effect requiring companies to publish an additional report twice annually during the first and third quarters of the financial year.

Deloitte audit partner Isobel Sharp said that the information submitted was an improvement on previous years, but key data had been left out in some cases.

A study of 20 listed companies uncovered a variety of practices, including three companies out of 17 with January year ends that had failed to hit the deadline.

Questions also remain about who regulates the statements.

Sharp said: ‘While the Financial Reporting Review Panel has not explicitly stated its view, it will probably consider the statements outside of its remit.’

For more go to Deloitte.com