F = failed = Flavorite Foods

If there was a pass or fail mark for the quarterly reports, Flavorite Foods out of Trinidad would get a huge failure mark for their reports but, the latest one would be marked even lower than some that went before. The interim financial report to June this year, was posted on the TTSE website on September 22, the report is not dated so is unclear when the company actually released it.
What is not in doubt is that the presentation is reminiscent of a worker just throwing down their work before their superior, with a total lack of the pleasantries that could go along with it, for a better experience all round. It is not surprising that the company has been struggling. The financial presentation speaks eloquently about inadequate management of its affairs. Do managers really see the connection between what they put out for public consumption and how they are perceived by the public?
The first thing noticed, is the absence of results for the quarter. That is a format of reporting that other listed companies report on routinely. In addition accounting standards on interim reporting require the break out of quarter income and expenditure.
Revenues fell 16 percent in the six month to June to $69.4 million and a small profit of $1.45 million before taxation in 2014 melted into a loss of $1.5 million. After tax profit for the first six months in 2014 of $862,000 fell to a loss of $1.6 million in 2015.
During the previous fiscal year for the September quarter, the company said it closed its loss making operation in St Lucia and that the group’s results have shown marked improvement and sustainability. The big question that shareholders must be asking is what has happened since and what will be done going forward, a question that management has failed to provide the answer to.
The directors with only one signing the report although there is space for two to sign, did not think it right to at least pay shareholders the courtesy of an explanation for the change in fortunes and try to paint a picture of the near term future. What is so wrong with some level of communication with their investors, something is clearly wrong and the directors don’t seem ready or capable to change it. Investors deserve better than that.
Products offered by the company include ice cream, snacks, yogurt. The stock which is listed on the Trinidad & Tobago Stock Exchange last traded at $4.80.