[29 December/Otago Daily Times]

The second-largest fishing company in New Zealand, Sealord, owned by iwi vehicle Moana New Zealand and Japan-based Nippon Suisan Kaisha or Nissui, reported a $24.3 million net profit for the year ended September. This was up from $18.5 million the previous year. Moana reported a profit of $21.4 million for the year ended September 30, an 11% increase from the previous year. A decrease of 2.7% in operation’s administrative expenses allowed Sealord to increase profit. Moana declared an $8.6 million dividend being divided among 58 iwi. Moana has distributed $95.1 million to its shareholders since 2004.