Value created. Value recognised.

Some businesses
are more valuable
than they are
understood to be.

We work out what the market does not properly understand, what needs to change, and then use the financial calendar to change that understanding consistently.

When understanding falls short, so does perceived value.

A Volex executive presenting a slide on reinvesting for high returns to an audience of investors and analysts at a capital markets day

Re-educating the market starts with deciding what it needs to understand.

Our role

We work with leadership teams to understand where the real value sits in the business.

We ask the questions the City will ask. We make complex businesses easier to understand. We identify what is genuinely different and connect it to the evidence that supports it.

The value of judgement

Challenge assumptions.
Connect evidence.

Find the value inside the complexity.

Our approach

One strategy, working across the financial calendar

At the centre is a communication strategy that determines what needs to be understood, by whom, in what sequence and with what evidence.

That strategy guides a programme of activity across the financial calendar, while remaining responsive to events beyond it.

The calendar stops being a series of separate reporting obligations and becomes a programme for changing and reinforcing market understanding over time.

Once the position is clear, every communication performs a role.

Some channels evolve understanding. Some provide the evidence behind it. Others must respond to unplanned change.

We agree what needs to change, then decide which role each channel should perform in delivering that strategy and changing perception.

That is the thinking behind Evolve, Hold and React.

Participants discussing the Norcros purpose in a meeting room
Leadership workshop
A speaker presenting the Norcros proposition to an audience
Norcros group-wide leadership roadshow
A speaker delivering a Volex presentation
Volex presentation
Three panellists taking audience questions at a Volex capital markets day
Volex capital markets day
One connected ecosystem

Select a role to explore

At the centreCommunication
strategy

Each channel has a purpose.
All work towards a coherent understanding.

Move understanding forward.

Results, capital markets days and strategic updates are opportunities to evolve how the City understands the business.

We use them to address the assumptions that need to change, introduce what needs to be understood next and provide the evidence that supports it.

Not simply more information. A deliberate change in understanding.

Give that understanding substance.

The corporate website, annual report and supporting materials provide the detail, context and evidence behind the proposition.

They give the City somewhere to return to, investigate further and deepen its understanding.

These channels hold a clear, current and evidenced account of the business as it develops.

What we ask people to believe must be supported by what they can find.

Make change understood.

Acquisitions. Disposals. Leadership changes. Unexpected developments.

When something changes, communications need to respond with clarity, pace and context.

We explain not only what has happened, but what it means for the business and how it changes the position.

The response should explain what has changed, what remains true and how the development fits into the wider strategy.

Evolve, Hold and React work together.

What we advance in one channel must be supported in another.

What changes in the business must be reflected across its communications.

A results presentation should not put forward a proposition the website cannot substantiate.

An acquisition announcement should not leave people guessing how the business has changed.

Practical application across the financial calendar

Illustrative rather than prescriptive. The exact timing and emphasis will vary by organisation.

Evolve

Channels that move understanding forward and help the market see what matters next.

Hold

Channels that provide the depth, evidence and reference material behind the proposition.

React

Communication that explains what has changed, what it means and how it affects the wider position.

Social media runs across Evolve, Hold and React, building understanding before key communications, extending their reach afterwards and connecting each development to the wider position.

Q1

Set the position

  • EvolveFull year results
  • HoldAnnual report
  • HoldCorporate website
Q2

Support the case

  • EvolveInvestor and analyst meetings
  • HoldCorporate website
Q3

Develop understanding

  • EvolveCapital markets day
  • EvolveTrading update
  • HoldCorporate website
Q4

Reinforce the position

  • EvolveHalf year results
  • HoldSustainability or supporting material
  • HoldCorporate website
React at any point

Acquisitions or disposals, leadership changes, contract wins, warnings or other consequential developments can enter at any point and should be explained clearly across the connected communication ecosystem.

Our services

Within a programme, we deliver each of these services end to end: from the strategy that defines what the market needs to understand, to the communications that change it.

Strategic foundationEvolveHoldReact
  • Communication strategy
  • Value proposition and investment case
  • Core narrative
  • Competitive and peer analysis
  • Proofpoint and evidence architecture
  • Full and half year results
  • Capital markets days
  • Investor presentations
  • Investor and analyst meetings
  • Management messaging and rehearsal
  • Corporate website
  • Annual report
  • Investor FAQ and Q&A bank
  • Sustainability and supporting reports
  • Evidence and supporting material
  • RNS and announcements
  • Acquisitions and disposals
  • Leadership change
  • Major contract wins
  • Warnings and consequential developments
Enterprise branding

Brand strategy for the whole enterprise, so the group is recognised for one proposition by investors, customers and employees.

  • Brand strategy and positioning
  • Brand architecture for groups and portfolios
  • Visual identity and guidelines
  • Employer brand and purpose

Understood by people. Interpreted through machines.

A business needs to be understood in the room, across its communications and through the machines people use to investigate it.

The market does not encounter a business only through meetings, presentations and published communications. Increasingly, people use search and AI tools to investigate, compare and understand companies.

Those tools work with the information a business makes available.

That means the proposition, evidence and data need to be clear and consistent wherever they are found.

Whether the business is being understood directly by a person or interpreted through a machine, the same value needs to be visible.

Talk to us about any of these services

As the business creates value, develops and transforms, its communications keep pace.

Our relationships

The value does not depend on organisation size

Across the markets. Focused on value.

From large FTSE constituents to small-cap businesses, leaders need the value of their organisations to be understood.

The scale of the business may change. The complexity of the challenge may change. The need for clear market understanding does not.

We are selective about where we can make a meaningful contribution, not guided by market capitalisation alone.

Who we work with

Access is earned.

Understanding where the real value sits means knowing which assumptions the market is relying on, what evidence already exists inside the business but is never seen, and what the leadership team actually believes.

None of that is available from the outside. It comes from being in the room early, often, and with enough standing to ask difficult questions.

Reputation may get us into the room. Our value is in what we achieve together.

The longer we work with a business, the earlier we are involved. The earlier we are involved, the more the work is worth.

Four people standing together at an event featured on the Jones+Palmer strategic advisory page
Evidence

Outcomes driven

Our role is not complete when the communication is delivered. What matters is whether the business is understood differently afterwards.

In both of the following, the market was not given more information. It was given a different way to read the business.

Volex

From a cable and assembly manufacturer to a business understood as a critical partner in complex power and data transmission. The move from AIM to the Main Market put that understanding in front of an entirely new investor base.

  • Understood by what it makesUnderstood by what it solves
  • Complexity as something to explainComplexity as the reason it wins
  • Medium-term targetsA growth mechanism investors could follow

Following the Capital Markets Day, all eight covering analysts rated the event a success and judged the medium-term targets credible and achievable.

Norcros

From a portfolio of separate subsidiaries to a group with one recognisable proposition.

  • Recognised as a collection of bathroom product companiesRecognised as a single group of leading bathroom brands
  • A purpose written downA purpose the group is explained through
  • Sustainability as a separate activitySustainability inside the investment case

Named Best Use of Purpose as a Business Driver at the Corporate Reporting Awards. Carried into the business as the #BeSomeone employer brand, the same purpose now reaches every operation in the UK, Ireland and South Africa, each of them Great Place to Work certified.

Our team

The people you will work with

Executives work directly with Nick Christopher and Will Morgan-Harrold.

The people who form the judgement are the people who deliver it.

Our advisers work directly with leadership teams to find the value within complex businesses and understand what may be preventing that value from being fully recognised.

They listen, interrogate and challenge, connecting strategy, performance, market perception and stakeholder understanding to identify what the organisation needs to be known for.

They then turn that judgement into a communications system, defining the messages, evidence, sequencing and channels required to build understanding over time.

The result is not simply stronger communications. It is a clearer relationship between the value the organisation is creating and the value its stakeholders are able to recognise.

Our advisers operate between the boardroom and the market, helping leaders move from value creation to value recognition.

Nick Christopher, Director

Nick Christopher

Director

Will Morgan-Harrold, Director

Will Morgan-Harrold

Director

About us

We exist to recognise value and make value recognisable.

We start with what an organisation is becoming, not what the market thinks it is.

For more than a decade, Jones+Palmer has worked alongside listed companies and their leadership teams on annual reporting and corporate communications. Doing that well has always meant going beyond disclosure: understanding the business, interrogating its strategy and performance and asking the questions investors will ask.

That work has moved beyond the annual report, to working directly with CEOs, CFOs and leadership teams across the whole financial calendar. That is why we launched JP Capital Markets: to make sure the progress being made inside an organisation is understood and recognised outside it.

For our existing clients, JP Capital Markets means the relationship can go further. For new clients, it is increasingly where the relationship begins.

Our cause

Close the gap between value created and value recognised.

Markets move, strategies change and evidence ages.

Value created.
Value recognised.

We work with a small number of businesses where the challenge is real, the leadership is involved, and there is something genuinely worth understanding.

The same two people, in every conversation, from the first question to the last.

Talk to Nick and Will