Seafood and property have proved to be good earners for Ngai Tahu Holdings Corporation in the year ended June 30.
Ngai Tahu Holdings yesterday reported a net operating surplus of $35.5 million for the period, an increase of $16.9 million on the previous corresponding period.
The full results will be released today.
Holdings chairman Trevor Burt said the commercial arm of the iwi performed strongly.
"Ngai Tahu Holdings has delivered our best result yet. The net operating surplus of $35.5 million surpasses our previous best result of $31.8 million in 2008. Strong operating cash flows were also a positive feature of the year."
The investment in strengthening the subsidiary boards also contributed to the strong performance, Mr Burt said.
Chief executive Greg Campbell said all commercial entities made significant improvements in the period.
That achievement reflected the robustness of the subsidiaries to weather the recession and take advantage of the more favourable overseas market conditions.
The accounts showed Ngai Tahu Seafood delivered a record performance with an earnings before interest and tax (ebit) of $13.3 million ($4.7 million in 2009).
The successful result was driven by a strong performance from the rock lobster quota due to the thriving Chinese economy along with the company's improved quality control, Mr Campbell said.
Despite continued volatility in the tourism market, the tourism subsidiary ended the year with an improved ebit of $5.8 million ($5.3 million).
"The economic recession saw a change in the makeup of New Zealand's tourism markets with significantly fewer visitors from Europe and the United Kingdom but an increase in visitors from Australia and Asia."
Returning confidence in the property market also resulted in a stronger performance from Ngai Tahu property, he said.
The subsidiary had an ebit of $20.4 million before revaluations compared with $15.7 million last year.
The property investment portfolio also continued to show resilience against the impacts of the recession, Mr Campbell said.
Listed company Ryman Healthcare is the primary investment in the Ngai Tahu Capital portfolio.
The value of the Ngai Tahu Capital shareholding in Ryman increased by $16.4 million to $76.9 million in the period.
