State-owned agribusiness Landcorp says better partnerships with iwi are part of its priorities for the future.
It has recorded a net operating profit of $12.2 million in the half year to December 2013.
During that time Landcorp completed the sale of the Pouarua dairy complex to the Hauraki Collective representing iwi in the region.
The 2206 hectare complex will be farmed by Landcorp under a sharemilking agreement.
It says it sees substantial potential working with Maori interests who own land following Treaty settlement.