By Moana Ellis, Local Democracy Reporting
One of the country’s largest farming operations has returned to profit with a $9.7 million after-tax surplus, reversing two consecutive loss-making years.
The Māori-owned Ātihau-Whanganui Incorporation has more than 9000 shareholders and 42,000 hectares of ancestral land under management from Ohakune to Whanganui, including eight sheep and beef stations, a dairy farm, forestry and beehives.
Its shareholders are descendants of the original owners, who belonged to Te Ātihaunui-a-Pāpārangi and Whanganui iwi.
Shar Amner has been re-elected to the board, with Jonelle Hiroti-Kinane and Hayden Potaka joining as new governors following the incorporation’s annual general meeting in Whanganui.
Three of the seven board members stood down under the board’s rotation policy, including long-serving governor Whatarangi Murphy-Peehi, who did not seek re-election after serving 41 years.
Amner, Hiroti-Kinane and Potaka were selected from a field of eight candidates. They join Dr Rawiri Tinirau, Hamish Blackburn, Kemp Dryden and Keria Ponga for the next term.
In his chair’s report for the year ended June 30, 2025, Amner said the incorporation had returned from a period of “stabilisation to performance”, turning two years of losses into profit.
Net profit after tax shifted from losses of $6.7 million in 2023 and $5.7 million in 2024 to a $9.7 million profit. An operating profit of $0.8 million was also reported, compared with a $1.3 million operating loss in 2024.
Amner said the turnaround had been achieved “through discipline” and during a period of leadership transition.
The incorporation reduced debt by 25 percent ($10 million) through sales of honey and carbon credits, and more than doubled its dividend to shareholders from 28 cents in 2024 to 60 cents.
Amner said the year had been turbulent, but the incorporation’s response had been measured and deliberate.
“We have undertaken fundamental structural reforms while honouring the vision our tūpuna established for their mokopuna.”
The board consolidated its strategic focus from seven priorities to three: farm performance and productivity, strategic partnerships and relationships, and data-driven decision-making.
“This restructuring reflects a fundamental shift from broad aspiration to targeted execution.”
Amner said market realities continued to shape results.
“Operating in global commodity markets exposes us to volatility we cannot control. Yet our scale brings resilience and responsibility.
“While market fluctuations affect all agricultural enterprises, our institutional stability and operational diversification position us to weather these cycles more effectively than smaller operators.”
Livestock prices were strong for both meat and milk, while wool also showed signs of recovery, improving the economics of shearing.
Spring production saw 86,359 lambs and 3790 calves born, with 58,832 lambs sold. Milk production resulted in sales of 279,423kg of milk solids, averaging 436kg per cow.
Honey production showed long-awaited signs of recovery for the incorporation’s AWHI Mīere apiary business, with 56,500kg of high-quality mānuka honey extracted alongside 23,000kg of native bush honey retained for hive feeding. More than 148,000kg of honey stock was sold.
The board increased its distribution to the incorporation’s charitable arm, Te Āti Hau Trust, from $250,000 in 2024 to $325,000.
The trust supports shareholders and their descendants through kaumātua, education and marae grants.
Te Āti Hau Trust chair Dr Rāwiri Tinirau said that despite the reduced distribution from the incorporation for the year to the end of June, the trust was able to distribute more than $362,000 in 527 general and education scholarships and grants.
This included 210 kaumātua health and wellbeing grants totalling $166,000, $105,000 in 175 education grants, $45,000 in marae grants, and tangihanga grants for wharemate.
“We have seen a steady increase in applications from kaumātua seeking support with healthcare costs, particularly in key areas such as dental care, optical services and hearing aids,” Tinirau said.
Amner told Local Democracy Reporting the incorporation was well positioned for the future, with recently appointed chief executive John Tatere ready to lead the next phase of growth.
Awa FM – Te Reo Irirangi o Whanganui
For more of our people, our stories, our way, click News or follow us on Facebook.
