11 Feb 2013

Miraka owners determined to capitalise on profit

6:33 am on 11 February 2013

The owners of Miraka Ltd, an independently owned dairy company, are determined to capitalise on their first year of operation, which produced a profit.

The only Maori majority-owned and controlled dairy company in New Zealand began production at its milk processing plant at Mokai north west of Taupo, in late July 2011.

Chairman Kingi Smiler said the intake during the year exceeded expectations and led to the company making a profit, which was very pleasing.

He said the expectation of global economic volatility has always been there and so planning had allowed for that in terms of foreign exchange hedging, customers and how efficient the company is in collecting and processing its milk.