17 / 100
in Novotel Tainui and Ibis Tainui
hotels in May 2014.
The net profit for TGH and
WTF was $34.3 million, down
18% from 2014. Net profit is a
combination of net operating
profit, finance costs and
unrealised gains or losses,
including revaluations of assets.
Unrealised gains in investment
properties were 57% less than
the prior year’s gains.
TGH and WTF paid a combined
dividend of $12.5 million this
year a 10% decrease from the
prior year’s dividend of $13.9
million. In 2014, WTF had the
benefit of passing the $1.9 million
bonus issue it received from its
investment in Aotearoa Fisheries
Limited to its shareholder
Waikato-Tainui Te Kauhanganui
Incorporated (WTTKI) – a benefit
that has not been repeated in
2015. The total dividends paid
to WTTKI since TGH’s inception
are $125 million, which has
been used to support the tribal
objectives for Waikato-Tainui.
financial performance summary – tgh and wtf
at a gl ance
2015
2014*
net oper ating profit
$35.6m
$36. 8m
net profit
$34 .3m
$41.7m
revenue grow th
19%
11%
total assets
$876m
$823m
equit y
$537m
$529m
dividend
$12.5m
$13.9m
return on equit y
6%
8%
return on assets
4%
5%
bank debt to total assets
31%
26%
*Note that these amounts vary from what was published in 2014 due to a change in accounting
policy. See note 2.2 on page 55 of this Annual Report.
Sir Henry van der Heyden (left) and Chris Joblin
net oper ating profit
TGH and Waikato-Tainui Fisheries (WTF)
made sound financial progress during
the 2015 year. The two companies
achieved a combined net operating
profit of $35.6 million.
15
waikato-tainui
annual report 2015