November 29, 2023
Kahungunu ends year in profit
The chair of Ngāti Kahungunu Iwi Incorporated, Bayden Barber, says the future looks bright after what has been one a difficult year for the iwi.
The year included the closure of Takitimu Seafoods after a loss of almost $15 million and a series of extreme weather events including Cyclone Gabrielle which devastated communities.
At its annual meeting last weekend in Heretaunga Mr Barber was able to report a unaudited before tax profit of $2.26 million, turning around last year’s $2.7 million loss.
Group revenue was $28 million.
He says its outstanding community support networks shows the iwi’s growing resilience.
“I think those are all positive signals to our iwi that we are righting the financial ship.You know we’ve been through the wars in the past 3, 4 , 5 years – and to see that turnaround over the past twelve months is pretty pleasing,” he says.
Mr Barber says Ngāti Kahungunu is looking to diversify beyond farming, forestry and fishing.