Aotearoa Fisheries makes $15m half year profit
Pan-Maori fisheries company Aotearoa Fisheries has announced a half year profit of $15 million for the six months to the 31st of March.
That is already ahead of its projected full year profit of $14.9 million.
The profit included almost $11 million from dividends from its half share in Sealord Group.
Chief executive Robin Hapi says much of the improvement comes from restructuring and rationalisation of assets to focus on the company's strengths, and the impact of the lower New Zealand dollar is also starting to come through.
He says it's important for the success of the Maori fishing rights settlement that the company performs well, because there will be a dividend flow to tribes
“I think that it’s extremely important this company and these assets perform for iwi, not only for creating shareholder wealth for the tribes but also as an example to the rest of the company of how a settlement can work for the benefit of Maori,” Hapi said.
He says compared with what can be earned in other sectors, the profit is a reasonable return on the $380 million in Maori fisheries assets held by Aotearoa Fisheries.
BROWNLEE WRITES OFF EIGHTH SEAT
National Party Maori affairs spokesperson Gerry Brownlee says it is looking unlikely there will be an extra Maori seat as the result of the Maori electoral option.
Before the option started Mr Brownlee said there could be two or three new seats because fo the impact of the Maori Party.
He says that's not the story with only three weeks to go of the option, which gives Maori voters the choice between being on the Maori or the general roll.
Mr Brownlee says that is an interesting result for the country's political future, given the large number of Maori aged in their early to mid teens at the time of the 2001 Census.
PARIHAKA FESTIVAL SET FOR RETURN
Planning is underway for another Parihaka Peace Festival.
Organising festival spokesperson Te Miringa Hohaia says the inaugural event made a modest profit, which will be shared among the three whare at Parihaka.
Mr Hohaia says organisers are talking to two potential overseas headliners for next January's event.
That is already ahead of its projected full year profit of $14.9 million.
The profit included almost $11 million from dividends from its half share in Sealord Group.
Chief executive Robin Hapi says much of the improvement comes from restructuring and rationalisation of assets to focus on the company's strengths, and the impact of the lower New Zealand dollar is also starting to come through.
He says it's important for the success of the Maori fishing rights settlement that the company performs well, because there will be a dividend flow to tribes
“I think that it’s extremely important this company and these assets perform for iwi, not only for creating shareholder wealth for the tribes but also as an example to the rest of the company of how a settlement can work for the benefit of Maori,” Hapi said.
He says compared with what can be earned in other sectors, the profit is a reasonable return on the $380 million in Maori fisheries assets held by Aotearoa Fisheries.
BROWNLEE WRITES OFF EIGHTH SEAT
National Party Maori affairs spokesperson Gerry Brownlee says it is looking unlikely there will be an extra Maori seat as the result of the Maori electoral option.
Before the option started Mr Brownlee said there could be two or three new seats because fo the impact of the Maori Party.
He says that's not the story with only three weeks to go of the option, which gives Maori voters the choice between being on the Maori or the general roll.
Mr Brownlee says that is an interesting result for the country's political future, given the large number of Maori aged in their early to mid teens at the time of the 2001 Census.
PARIHAKA FESTIVAL SET FOR RETURN
Planning is underway for another Parihaka Peace Festival.
Organising festival spokesperson Te Miringa Hohaia says the inaugural event made a modest profit, which will be shared among the three whare at Parihaka.
Mr Hohaia says organisers are talking to two potential overseas headliners for next January's event.
posted by Adam | 8:31 am
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