Moana New Zealand's efforts through Covid-19 benefits all Iwi with dividend shares

By Te Ao - Māori News

All 58 Iwi will receive a share of $8.8 million dividends as the financial results are finalised.

Moana New Zealand, New Zealand's largest Māori owned kaimoana and kai ora company has reported a net profit after tax of $20.3 million for the 2020 financial year. 

The company, owned by all Māori across the motu, returns a minimum of forty percent of profit to it's Iwi shareholders which goes towards funding for local communities, social programmes and other commercial interests.

Moana New Zealand's Chairperson, Hinerangi Raumati-Tu'ua and Chief Executive, Steve Tarrant are proud of Moana New Zealand and Sealord staff's collective efforts while operating under the challenging conditions of the Covid-19 pandemic.

"Despite a very difficult year, the highlight was the courage, passion and commitment shown by all staff in times of great uncertainty. Being classed as an essential service was a privilege our staff took seriously," says Raumati-Tu'ua.

Tarrant adds, "Staff were extremely proud and in fact humbled to be able to supply our nation's kaimoana and kai ora needs through challenging periods."

It was Moana New Zealand's ika business that showed the most strength and resilience throughout the pandemic with increased supply both domestically and to Australian markets due to wider exports' restrictions due to Covid-19.

"Our domestic market channels exceeded sales expectations as Kiwi whānau continued to put healthy protein on the dining room table during the lockdown periods," says Tarrant.

Sealord's significant contribution was a highlight for the year, as they hit a record retail market growth as they adjusted to the consumer purchasing behaviour during the pandemic.

Moana New Zealand's share of Sealord's operating earnings after tax is $14.6m.