Cook Brothers build on success

Staff from Deloitte Fast 50 Otago winner Cook Brothers Construction pictured at the Dunedin Public Art Gallery last night with Deloitte Dunedin partner Mike Horne (centre) are (from left) Simon Glass, of Queenstown, Sam Rofe, of Tauranga, Dave Bulling, of Auckland, Ben Bulling, of Wellington, Blair McGill, of Dunedin, and Rupert Curry, of Auckland. Photo by Jane Dawber.

Dunedin-based Cook Brothers Construction was announced the Otago winner of the annual Deloitte Fast 50 Index last night.

Four Otago businesses made it into the annual Top 50 index.

Nationally, Wellington-based online electricity retailer Powershop headed the top 50 annual index, with the highest revenue growth recorded in the index's 11-year history - at 5280%.

Cook Brothers' overall 19th place, was underpinned by the three other Top 50-ranked Otago companies, Queenstown-based Educating Adventures and MedRecruit, and Salmac Insulation, of Dunedin.

Dunedin-based Deloitte partner, Mike Horne, said it was "remarkable" that both Cook Brothers and MedRecruit had featured for a third successive year in the top 50, given the high level of revenue growth which had to be sustained to make the index.

"The conditions have been pretty tough for the local economy over the past few years, so it is encouraging to see businesses meet the challenge and show positive growth.

"It is testament to the management of each of these companies, and all our entrants," Mr Horne said yesterday.

He noted, too, that Educating Adventures and Salmac were making second consecutive appearances.

"For the second year running Salmac also won the national fastest growing mature business award, for a company operating for more than 15 years," Mr Horne said.

Educating Adventures also won the award for the fastest-growing retail or consumer products business and fastest-growing exporter in the Otago and lower South Island region, while Cook Brothers also won the region's fastest-growing business services business award.

Cook Brothers has 90 employees in Dunedin, Queenstown, Auckland and Tauranga, and recently opened a Christchurch office in response to the February earthquakes, co-founder David Bulling said in a statement.

The company had its beginnings in 2004 when as students in their 20s, Richard McLeod, James Arnott and brothers Ben and David Bulling bought the lease on the historic Captain Cook pub, in Dunedin.

Since then the company had evolved and grown to be involved in a mix of residential and commercial projects, including retail, education, medical, sporting and historical.

Mr Bulling said the earthquakes in Christchurch had changed the industry, and Cook Brothers "to do list" now included plans to restore 16 damaged churches.

National leader of the Fast 50 programme, Deloitte partner Matt McKendry, said Powershop's achievement was not only remarkable for the stellar growth rate it achieved, but also for how it had "challenged a number of industry norms and effectively turned electricity retailing on its head".

• The Deloitte Fast 50 businesses for 2011 boosted the New Zealand economy by $594 million, during the past three years, and created 1502 jobs.

Deloitte Fast 50 Index

National winners
1: Powershop - 5280% (growth)
2: 2Degrees Mobile - 3761%
3: Telecom Rentals - 986%
4: Xero -873%

Otago winners
19: Cook Brothers Construction - 330%
23: Educating Adventures - 302%
46: MedRecruit - 159%
50: Salmac Insulation - 144%.

Criteria
Index of top 50 New Zealand-registered companies compiled from their revenue growth during previous three years. All technology businesses automatically nominated for Deloitte Technology Fast 500 Asia-Pacific index.

- simon.hartley@odt.co.nz