Ngapuhi posts record profit

The country's largest iwi, Ngapuhi, has reported a record profit growth of 22 per cent, adding $2.6 million to tribal coffers.

Ngapuhi chairman Sonny Tau said the result continued five years of growth for the tribe after reporting a loss of $800,000 in 2000.

He said the improvement was the result of management restructuring and improved governance.