July 21, 2015
Waikato Tainui assets hit $1.2b
It has been another good year for Waikato Tainui, with the tribe reporting assets of $1.2 billion, up $123 million on 2014.
Net operating profit was $26.1 million.
Its commercial arm Tainui Group Holdings and Waikato-Tainui Fisheries reported a combined dividend of $12.5 million.
TGH chair Sir Henry van der Heyden says the firm's total assets grew $53 million to $875 million and its net operating profit was $35.6 million.
Highlights were the investments in Waikato Milking Systems, Go Bus and Genesis Energy, with all three firms providing strong returns from day one.
TGH’s Rahui Papa, the chair of the tribe’s executive committee Te Arataura, said $22.3 million was distributed for social development programmes and activities including the Kiingitanga, education, marae, and kaumatua health and wellbeing.
That compared with $6.1 million last year and included a one-off payment of $15 million in grants to marae for development purposes.
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