Take a bit of chewing on, but I'm positive on where TFS are...

Take a bit of chewing on, but I'm positive on where TFS are heading. Not expecting any fireworks in the short term but the longer term prospects look excellent so definitely one to buy now and put away for a few years.

I did note a lower uptake for the buyback offer for the 2017 harvest, it will be interesting to see how that might impact on the 2017/18 year.

Great to see "majority of production" through to 2021 is now forward-sold. Hopefully "majority" isn't just 51% but something greater than that... it would have been better if TFS had actually stated a % figure but in any case, it looks as though forward sales are going well & should help with keeping the cost of financing down as a result of a lower financial risk profile.