On point 2, there is an owned plantation maturity profile in one of the market update presentations which shows 2018-2020 are leaner from a harvest perspective, so no the F17 growth won't be sustained.
It's important to note that the majority of TFC's earnings are from MIS fees. But come 2021, we will see a continuation of strong harvest volumes which will drive strong profit growth in those years subject to oil/heartwood market prices and FX rates.
TFC Price at posting:
$1.49 Sentiment: Buy Disclosure: Held
