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Ngati Whatua Orakei has declared a $91.29 profit before tax for the year to June 30, with its total assets now standing at $1.66 billion.
Ngāti Whātua Ōrākei has declared a $91.29 profit before tax for the year to June 30, with its total assets now standing at $1.66 billion.
Total expenses of $69.4 million outstripping revenue by $4.5 million, but the profit was boosted by an $89 million gain on revaluation of its investment properties.
Property sales decreased by $14.3 million because of Covid-related building delays to its North Shore Oneoneroa development.
That was offset somewhat by a $7.9 million increase in government revenue, including funding for health services, education and other Covid-19 response support.
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