Tainui Group Holdings' new hotel and retail investments have helped drive its full year net profit 60% higher to nearly $40 million.
Waikato-Tainui iwi's commercial arm says that net profit was up from $23 million last year, while operating profit rose 40% to nearly $21 million.
Revenues were boosted by Tainui's $210 million investment in the two major projects, which take its total assets to nearly $700 million.
The company completed the final two planned stages of the new Te Awa Mall at The Base retail centre at Te Rapa in Hamilton.
It also finished building the Novotel Auckland Airport hotel, in which is has a 70% stake.
Tainui Group's chief executive Mike Pohio says the two projects are a watershed, giving the company a more secure income.
Company executives are now focussing on a proposed "inland port" and freight hub on 500 hectares of land at Raukura, in north-east Hamilton.
Mr Pohio says the company will looking for partners and financiers for the $3 billion development over 30 years.
It has declared a dividend of $11 million for shareholder Waikato-Tainui, a $500,000 rise from last year.
