The market is clearly growing tired (as am I) of TFL's...

The market is clearly growing tired (as am I) of TFL's occasional fluff pieces and no quantitative positive news. The best they serve up is the old trick of picking one or two areas to highlight a cheap statistical positive and taking credit for ongoing growth in group sales which is only happening due to continued aquisitions and significant capex.

I would relish the opportunity to see a thorough breakdown of ALL the business areas, not just broad groupings such as "Dairy", so we can really see what is performing and what is not.

* What ever happened to the Wasabi business? Is it making money at last? Or is it dead?

* What about the Goat dairy business? Was much vaunted two years ago but has it ever turned a profit?

* How is the Nichols Ethical Free Range chicken actually going, margin wise? A lot has been spent on marketing it, but it is a high cost product so is it actually earning anything as a sub-brand?

* How is Pyengana Dairy sales performing now that TFL has owned it for two years?


I have lost patience with a very underperforming and insular BOD and Senior Management, and am selling down my holdings.

Management appear comfortable keeping shareholders in the dark and treating us as fools. Until they do a major U-turn in performance and attitutde, I suspect the market is going to continue to smack the price down.