July 22, 2015
Risks spread as tribe builds wealth
Waikato Tainui is confident its diversification strategy is on track as it releases positive numbers for the past financial year.
Net operating profit was $26.1 million with total tribal assets rising to $1.2 billion.
Chief executive Parekawhia McLean says last year's investments in provided strong returns from day one.
"Our portfolio of assets is largely weighted toward property hotels and so on. And so we needed to diversify hence the move last year to acquire Waikato Milking systems alongside Ngai Tahu. Go Bus, is the second largest public transport company in New Zealand and of course our shares in Genesis Energy when they came to the market" he says.
Parekawhia McLean says commercial subsidiary Tainui Group Holdings hopes to get the first resource consents for its inland port development at Rauakura by October, and it is seeking commercial partners for the project.
Waikato Tainui is also looking at boosting its investments in employment and training, education, and afforable housing in the Waikato and Tamaki Makaurau.
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