AGM Celebrates Another Successful Year

AGM Celebrates Another Successful Year

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Applause and warm acknowledgement was the key theme from Raukawa uri who gathered at the South Waikato Sport and Events Centre on Saturday 9 December for the Annual General Meeting (AGM) of the Raukawa Settlement Trust (RST).

 

The AGM was an opportunity for uri to hear about the mahi of the RST, Raukawa Iwi Development Limited (RIDL) and the Raukawa Charitable Trust (RCT), which together make up the Raukawa Group.

 

RST Chairperson Vanessa Eparaima said she was humbled to be able to present such strong results to whānau.

 

“It was once again a privilege to be able to report on another year of strong results for the whole group and a healthy outlook going forward.”

 

A highlight for many was hearing of the progress on the redevelopment of Raukawa House, and the chance to take a tour of the new iwi headquarters, and presentations from the RCT business groups.

 

RCT Tumu Whakarae Bobby Bryan said he was pleased with the response and feedback to the presentations from those in attendance.

 

“The feedback from whānau was very positive, with many impressed at the quality and range of mahi carried out by our kaimahi throughout the year”.

 

Vanessa said whānau were also grateful for the presentation from RIDL Chairperson John Spencer and RIDL manager Andrew Harrison.

 

“The message was clear from our commercial arm that results for the last five years have been consistently strong and that we have had some excellent results and growth. However, they rightly cautioned that this won’t always be the case, because of the volatility of national and international markets. However, the company takes a long-term pragmatic approach to managing the assets and wealth of the iwi.”

 

For the last financial year RCT revenue increased to $5.9million, from $5.86 million the year before, with costs remaining the same as 2016 at $5.73 million resulting in a surplus of $167,000 for the year.

 

The RST group achieved revenue of $12.2 million for the last financial year, with costs and distributions of almost $8.8 million resulting in a surplus for the year of $4.2 million.

 

RIDL continued its strong performance achieving its seventh year of surplus, with a surplus of $6.9 million before distributions. The asset base of our iwi has grown to $132 million, capping off another year of strong results and the continued economic growth of our iwi.

 

You can find more detail about the reported results in our annual report.

VIEW ANNUAL REPORT

 

 

ARTICLE ENDS

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