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...

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