58 | CONTRACTING Whitestone Contracting Ltd T T Rosa Watson Reaching new heights after 30 years Oamaru-based Whitestone Contracting offers a wide range of services including AC and service trenching. For more than 30 years, Oamaru-based Whitestone Contracting Limited (WCL) has made a huge contribution to the North Otago region and its communities. And the legacy is set to continue as the civil construction company grows. The company, that was formed in 1992, had its beginning carrying out the majority of the Waitaki District Council physical works, such as roading, utilities, and parks and reserves. Today it has grown to a large-scale civil construction firm offering a wide range of services from landscaping and civil construction to surfacing, road maintenance, water and drainage, cable and pipe location, spraying and mowing. While it is a council-controlled trading organisation, the company operates as an independent business with an independent board of directors, the Waitaki District Council is the sole shareholder. WCL has undergone huge expansion over the years through acquisition and internal growth, branching out into the Dunedin, Mackenzie and Central Otago regions while at the same time growing its operations in the Waitaki district. It now has its own in-house construction survey capability and several machines such as graders and excavators equipped with GPS machine control. This is a game changer in the industry, increasing efficiency and also safety by reducing people on the ground. It also has its own mobile asphalt plant with a capacity of 80-tonne per hour based in the Waitaki Valley, and its own chip sealing and asphalt paving capability. It currently employs 125 full-time equivalent staff across the business. In recent years it has invested heavily in its plant while rationalising older plant. An example of this was the recent purchase of a new 14-tonne reduced radius Volvo wheeled excavator, Paul said. “This will replace three older machines in the business that will be disposed of with a more modern and efficient machine that will be better utilised.” The company has weathered a number of economic ups and downs, particularly recently, Paul said. “Our financial results have been a mixed bag in recent years largely due to the effects of the pandemic and inflationary pressures on our business.” But the company remains in a strong financial position, Paul said. “Since the 2021/22 financial year we have steadily improved our financial results.” Last financial year it achieved an operating revenue of $26.8m, up 27 per cent from the previous year but only producing an average profit of 2.5 per cent of revenue.” This year the company had continued to grow the business with improved profit margins, he said. To mark the 30-year milestone, WCL celebrated with a full company get together in Oamaru in 2022. “This recognised and celebrated the past 30 years and some of the challenges that we faced over that time.” It also celebrated what the people in the company had achieved over 25 years with the business with a presentation of an Oamaru Stone Carving. “The day also provided an opportunity to reset and look ahead to ensure we are on the right path to address the challenges ahead,” Paul said. Some highlights over recent years were being awarded two CCNZ Otago branch awards for two projects – the $4.5million WDC Hamnak Water scheme, and the Queenstown Lakes District Council $100k Aubrey Road soakpit, and securing the Waitaki District Council Road Maintenance Contract in September 2022. Along with the highlights, there had also been many challenges to navigate, which were met by investing back into the company, Paul said. “The last few years have thrown some challenges at all businesses, particularly around people. We have adapted by investing in our people and our culture, working together on our values and behaviors and getting them off the wall in the office and out into the workforce.” WCL makes a large contribution to the communities it operates in through dividends paid out to the council, as well as contributing about $50k to 75k a year in sponsorship. It has two major sponsorship agreements with the Oamaru Opera House and Whitestone Contracting Centennial Park in Oamaru, which hosts rugby, cricket, soccer and more. “Both are great assets for the Waitaki and wider community.” It also supports the Waitaki Student Support Initiative and other smaller charitable organisations and clubs. “This sponsorship is additional to the dividend we provide to our shareholder based on our financial result, which aligns with our purpose to provide unparalleled value for the communities we operate in.” The company has aspirational growth targets over the next 10 years, he said. Structural, Mechanical & General Engineering Ph: (03) 434 2269 Mobile: 021 213 7152 www.oamaruengineering.co.nz
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