My original comments remain valid in the wake of yet another...

My original comments remain valid in the wake of yet another polished yet detail-thin Annual Report.

- Wasabi grew by 8% to a paltry $350k. So its basically a dead business then.

- 85% growth of Nichols Ethical Free Range chicken - from WHAT ACTUAL SALES to WHAT ACTUAL SALES? Come on, these are weak meaningless stats - it could be they grew sales from $10,000 to $18,500, so what. Is this segment actually making a profit yet? Same comment applies for wasabi.

- "Sales for Meander Valley Dairy and Robur Farm goat dairy products grew strongly throughout the year. " Again, no ACTUAL figures to show what base they are coming off and what they have achieved.

- Nothing that I could see noting how Pyengana cheese sales are performing under full TFL ownership. Just a soft mention of 30% increase in milk supply. No news probably means its not good.

I remain disappointed and continue to lack faith in transparency and capability of the Management.

As an aside I trawled my local Woollies in southern Tas on Saturday (would be one of the biggest Woollies in the State) to see how well positioned the TFL stable of products are. Betta milk still very easy to find. Meander Dairy cream had a single section of shelf space (about 8cm wide) and was totally swamped by other cream brands with a bigger presence. Couldn't tell any TFL / Nichols chicken from any other brand which was extremely disappointing - its almost all unbranded commodity chicken now so what value the 'Nichols' brand? Could not find ANY other TFL products in the entire store. Yet we keep getting told in each market update the range and distribution continues to expand. Hmmm.