Ngai Tahu launches review after poor year for honey and dairy units

By Victoria Young | Fri, 01 Nov 2019


A 76 percent plunge in annual profit for its commercial arm and challenging economic conditions has seen Ngai Tahu launch a wide-ranging review of its businesses.  The South Island iwi posted a net profit of $37.5 million for the year ended June from $153.7 million the previous year and the latest profit is also lower than forecast because of a $57.1 million write-down of its Oha Honey unit, formerly known as Watson & Son. The manuka honey unit’s operating deficit before the write-down was $6.3 million.   “Oha has been a challenging inves...