Why do schools do this? Its 2 weeks until end of term and still no reports.
It leaves no time to talk about interventions that might be needed or strategies to try and improve things. It also doesn't give time for parents to support on weak areas at home.
In theory there should be no surprises as there are parents evenings, but ime those aren't reliable, its when something is written down it counts.
They should be provided by spring half term so there's time to plan for the following year.