TFS Grower defaults, page-19

Hi Joe,
TFS indicated the range of discount rates in their half year accounts back in Feb 2015, note 7 when revaluing the biological assets.

1. (v) The pre-tax average real rate at which the net cash flows have been discounted range between:
   •  14% (June 2014: 14%) for trees aged 0 to 5 years;
   •  13% (June 2014: 13%) for trees aged 6 to 10 years; and
   •  12% (June 2014: 12%) for trees aged 11 years to harvest age.

cheers,

T