Many a share tip started life as the creation
of a public relations (PR) agency. Let us shine a
torch on the dark and well-paid art of PR. The agencies
construct an image for quoted companies to impress
on financial journalists and, in so far as they will
listen, analysts. They play a major part in distributing
company results, which, based on a 31 December year-end,
are published in March and September.
To the initiated eye, the unseen hand of PR is discernible
every day in the press. The large agencies are linked
with main City activity, and the many other agencies
pick up the smaller jobs. Journalists tend to depend
on PR executives, finding them more willing to explain
basics than company executives.
