Whitestone Contracting Ltd’s return to the Waitaki District Council has jumped about 35% this year.
The council-controlled company’s $700,000 dividend to the council, announced this week, increased from last year’s $520,000.
Whitestone Contracting chief executive Glenn Campbell said he was pleased with the company’s "good, solid year".
Sales revenue for the council-controlled company, established in 1991, climbed to $24.4million — a 7.9% increase on last year’s $22.6million — and the company’s pre-tax profit jumped 20.9%.
The company’s surplus before income tax, subvention payments and donations in 2016 hit $1,231,707 against last year’s $986,484.
Waitaki Mayor Gary Kircher thanked the company’s management and board of directors who presented the firm’s annual report to the council this week.
He said rural roading would benefit as $150,000 for traction sealing was approved in this year’s annual plan "subject to funding being available".
Controversially, in August, the council awarded its parks maintenance contract, a three-year term with a two-year rollover, to Downer instead of Whitestone Contracting, after the council took its parks maintenance contract to the market for the first time.
