Aotearoa Fisheries achieves lower profits than expected
Aotearoa Fisheries oyster. (Photo Credit: Aquaculture New Zealand)
(NEW ZEALAND, 12/30/2015)
Iwi-owned fishing company Aotearoa Fisheries Limited achieved a good result throughout the financial year ended on 30 September 2015 despite a difficult operating environment for Sealord Group Limited.
The firm’s executives announced that profit after tax of NZD 16 million (USD 10.88 million) for the year and a dividend to iwi shareholders totalling NZD 6.4 million (USD 4.35 million), Scoop Business announced.
“As the controlling shareholder, Te Ohu Kaimoana is pleased that Aotearoa Fisheries has performed well. The company is fundamentally in a sound position as the 58 iwi organisations ready themselves to take direct ownership of the company,” Te Ohu Kaimoana chief executive Peter Douglas pointed ...
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