November 18, 2020
Ngai Tahu looks to post-COVID rebuild
The chief executive of Ngāi Tahu Holdings says the business is rebuilding after dealing with the shocks of COVID-19.
The tribe reported a $103 million group deficit for the year to June, driven by losses in its tourism, farming and honey businesses and lower than expected returns from seafood.
Mike Pohio says that's because the pandemic means it missed out on the normal sales of crayfish for the Chinese new year.
He says it had to lay off staff in its tourism businesses, and its focus is now on building resilience.
"Yes, we went through a restructuring but we're out the other side of that and looking to the end of this year and certainly to 2021 as business as usual as we can be and to grow our businesses back as quickly as we can," Mr Pohio says.
Mike Pohio says the tourism business has refocused on the domestic market, with Shotover Jet and Huka Falls Jet in particular performing strongly.
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