July 03, 2013
Solid result for Tainui
Waikato-Tainui’s asset base is edging towards the $1 billion mark as its commercial arm continues to make steady returns.
The tribe is reporting a consolidated net profit of $111 million, with $70 million coming from the treaty relativity payment received from the Crown in December and the balance from Tainui Group Holdings.
Total assets now stand at $925 million, up $123 million on the previous year.
Tainui Group Holdings operating profit was $20.8 million, only slightly up on last year.
Chief Executive Mike Pohio says the rate of profit increase slowed because of the completion of several major investment projects.
He says long term the company wants to develop a 700 residential subdivision at Rotokauri.
It is also committed to developing an inland port at on the eastern edge of Hamilton, and has asked the Minister for the Environment to refer part of the project to the Environmental Protection Agency to speed up consenting.
In the short term it is looking to invest in a limited number of property development projects and private companies over the next 3-5 years.
Tainui Group Holdings will pay a dividend of $11.5 million to the tribe.
Ko te pikinga ō te pūtea ō Waikato-Tainui
Kei te whakaeke atu te uara ō te iwi ō Waikato-Tainui ki te kotahi piriona tāra.
E ai ki te iwi nei, kotahi rau, tekau mā tahi miriona tāra te pūtea tōpuu i whakatōpuuhia ai e rātou i te tau pūtea kua taha ake nei.
Hei te marama ō Hakihea, ka whakawhiwhia te iwi ki te whitu tekau miriona tāra anō, i raro i tana whakataunga tiriti ō te tau iwa tekau mā rima.
Hei tā te tāhuhu rangapū ō te ringa pakihi ō Tainui, ā Mike Pohio, e titiro whakamua ana ā Tainui ki te whakatū whare ki te whenua whitu rau heketea te rahi ki Rotokauri me te whakatū wahapū tuawhenua ki te rāwhiti ō Kirikiriroa.
Copyright © 2013, UMA Broadcasting Ltd