Ngāi Tahu Holdings has announced its best ever financial result.
It made a $240m profit for the year ended 30 June 2021, turning around last year’s $25 million loss.
Chair Mark Tume credited property revaluations, cutting overheads and consolidating the services that support the business units.
He says it was a year of significant uncertainty, and the company will continue to proceed with caution, as it’s clear the effects of the pandemic are ongoing and far-reaching.
Te Rūnanga o Ngāi Tahu kaiwhakahaere Lisa Tumahai says although the result is more than forecast, the distribution to the iwi will remain at $55.9m.
The South Island iwi channels its annual distributions into programmes including tertiary education grants and scholarships, language revitalisation, environmental projects, marae projects and many more.
