10 Nov 2008

Record operating surplus despite fall in profit at Ngai Tahu Holdings

7:01 am on 10 November 2008

Ngai Tahu Holdings has posted a 28% fall in profit, to $58.2 million for the year to June.

Last year's figures were boosted by a $63 million gain from selling nearly half its 12.5% stake in Ryman Healthcare.

Ngai Tahu saw a record operating surplus of $31.8 million; with its seafood arm making over a third of that due to higher prices and increases in some catches.

That offset a fall at its tourism division which suffered due to falling numvers from overseas.