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PARININIHI KI WAITŌTARA INCORPORATION
TE PŪRONGO O TE RAU TOI ARIKI CHAIRPERSON REPORT DION TUUTA
Turuturu te kawa, whakamanamana te kawa, heke mai te kawa ora! Kia piki ake rā ki runga i te waka o te manawanui, kia tāia ki te ngākau tangata te raukura o te whakapono, kia uruora ki roto i te whenua taurikura e māhora ake nei. Ko Parininihi ki Waitōtara tēnei e maioha atu nei, e whakairi ake ana i te kupu me te kōrero kia poipoia e te ngutu tāngata, ko tātou tēnei e ara ake nei, e matike ake nei kei runga, Rire, rire, hau pai mārire. Kia whakaritorito i te tī, ahakoa ka whati, ahakoa ka wana; koia tēnā, ko te tohu o te ora, koia tēnā, ko te tohu o te mounga roa. He tai papaki i te mahara tangata i roto i ngā tau maha, engari ka rokohina ake rā i te āio o te tai kia paingia e tātou! E kore e ngāueue, e kore e wharara, ko tā tātou taunaki ake i ngā pou rau takitaki. Nā rātou i taituarā mai tā tātou haere, nā rātou i waitohu te ara kei mua. Nēi kore, e kore pea ngē e taea noatia e tātou tēnei mea kotahitanga te whakakaupapa, e kore pea ngē e taea noatia e tātou tēnei whare tūranga kōrero o Parininihi ki Waitōtara te poupou ake. Nā whai anō i eke, nā whai anō i kite ate ara kei mua.
On behalf of the Parininihi ki Waitōtara Incorporation Committee of Management I am honoured to present the annual report for the financial year 2022/2023. It has been another year of change for the Incorporation on many different fronts, and so I wish to acknowledge all our kaimahi, the executive management team and my fellow board members for bringing their best to their mahi every day right from the outset.
Resilience is something we know very well, both as Taranaki Māori and as an Incorporation, and over the last year it has been brought to the fore in a wide variety of ways. Our values of Manaakitanga, Kaitiakitanga, Whakapono, Kotahitanga and Whanaungatanga remain a source of strength and focus for us, standing as touchstones as we negotiate the pathway of becoming a successfully diversified and sustainable Taranaki Māori owned and operated business providing meaningful opportunity for our people. FINANCIAL REPORT This year the PKW Group returned a net loss after tax of $1m, a result directly attributable to the downward re-evaluation of our corpus whenua. The volatility of the land valuation process has a considerable impact on our profit or loss position each year, and the reduction $10.5m (from $205m last year to $194m this year) is another example of this in action. Our financial reports have benefited from large valuation uplifts in the past, and so the swings and roundabouts of the property market will continue. It is important to note that these movements represent paper valuation movements not cash. A more realistic picture of our performance as a business entity can be seen in our operating profit before tax of $7.3m (FY21/22: $14.1m).
