Ngai Tahu boosts earnings from commercial operations, eyes bigger dairy investment

Wed, 26 Sep 2012

By Paul McBeth Sept. 27 (BusinessDesk) - Ngai Tahu Holdings, which manages the South Island iwi's commercial operations, boosted earnings across all of its units and is looking to ramp up its exposure in dairy. Net profit climbed to $95.7 million in the 12 months ended June 30, from $15.9 million a year earlier, the iwi said in its annual report. Operating earnings, which strip out gains from asset sales and property values, climbed 48 percent to $55.1 million on sales of $209.36 million. Ngai Tahu Holdings invested $39 million in property...

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