Ngāi Tahu drops to $95.5m loss

Waimakariri River. (Image: Getty)

Tue, 07 Nov 2023

Ngāi Tahu Group plunged to a $95.5 million loss for the year to June, reflecting a $200.7m turnaround on the $105.2m profit the prior year.Revenues across the investment group’s farming, seafood, tourism and properties interests were up 16% at $372.8m, from $320.3m for 2022. Relativity and aquaculture settlements from the crown came in at $98.1m, recognised on the books as tribal income. But higher operating expenses, at $128.1m, borrowing costs of $18.5m and a $42.7m loss on fair value adjustments to the investment property por...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk, Wednesday, May 14

Can you beat the Quizmaster?

The Quizmaster 9:15am

Economy

US-China tariff deal eases risks, Budget 2025 remains tight

Economists remain firm in their view that Budget 2025 will be lean.

Rebecca Howard 5:00am

US-China tariff deal eases risks, Budget 2025 remains tight

Sustainable Finance

KiwiSaver and fossil fuels: Weighing the investment decision

The pros and cons of sticking with fossil fuels.

Greg Hurrell 5:00am

KiwiSaver and fossil fuels: Weighing the investment decision

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Property

Property

Summerset launches $100m bond offer

Summerset Group has launched a six-year bond offer to fund the repayment of previously issued debt. The retirement village and aged care company told the market on Monday that it is raising up to $100 million, with the potential to accept an additional $50m in oversubscriptions. ...

Staff reporters 12 May 2025