BAA defends IR over ’misleading analysts’ charge

Des Wilson, corporate and public affairs head at airports operator BAA, this week defended his company’s investor relations record following press reports that a member of his team had misled analysts over a downward revision of profit forecast.

Des Wilson, corporate and public affairs head at airports operator

BAA, this week defended his company’s investor relations record

following press reports that a member of his team had misled analysts

over a downward revision of profit forecast.



BAA investor relations manager Michael Waring is alleged to have failed

to have given analysts - and, by extension, shareholders - sufficient

warning when he spoke to them last Tuesday that the company was set to

reduce its profit forecast by pounds 30-pounds 45 million the following

Friday.



Wilson said: ’Michael acted impeccably. He tried to indicate that no one

should be optimistic, but had he warned the analysts, he would have

broken Stock Exchange rules.’ The exchange requires companies to make

financial announcements publicly to avoid insider trading potential.



He added: ’The real question is whether we should have done something

that we didn’t, and the answer is no.’



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