Port Nicholson Trust posts first annual profit, eyes Wellington CBD land

Wed, 21 Sep 2016

By Sophie Boot Sept. 22 (BusinessDesk) - Port Nicholson Block Settlement Trust, the Wellington Maori tribal investment vehicle, has turned to an annual profit, its first since receiving its Treaty of Waitangi settlement in 2010. Net profit in the year to March 31 was $54,495 on $3.1 million in revenue, from a $563,763 loss a year earlier on revenue of $936,987, the trust said in a statement. The 2015 report has been restated under new public benefit entities accounting standards, but earlier reports have not. The trust posted a loss of $1...

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