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Show us the money.
(From Financial Director)
Byline: Robert Bruce.
Oil companies and banks are easy targets for the popular press.
Even in bad years, their profits can always be made to sound astronomical.
The skill with which the tabloids manage to equate profits with stories of embattled motorists fuming as prices at the petrol pumps rise, or with furious bank customers bellowing at call centre staff about a mislaid standing order, is famous. Banks and oil companies are fair game when 'fat cattery' is the theme.
But the banks and oil companies are fighting back. First they are targeting the general public and trying to explain why profit might be good for the ordinary person in the street, even though the man atop the Clapham bus may be paying higher fares because of rising oil prices.
One of the best avenues of defence was that put forward by HSBC when it released its annual results in early March. It established a link between profits and the general well-being of a sizeable tranche of the public.
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