Director Michael de Buyzer, chief executive Glenn Campbell and corporate services manager Tony Read presented the company's annual report for the 2018-19 financial year at an extraordinary meeting of the council yesterday.
For the year to June 30 it reported a pre-tax, donations and subvention profit of $1,803,695, up 32% on the previous financial year.
Mr de Buyzer said the record surplus could have been higher if the company had not elected to take a $200,000 write off on its acquisition of Dunstan Contracting earlier this year, which he said was a ''treatment of good will''.
The company's net surplus was $1,333,577, up from $962,939 the year before.
Mr de Buyzer said other features of the report were the company's continued investment in plant and machinery, which was more than $2.17million in 2018-19, and the purchase of an area of land in Ree St in Cromwell which will be developed as a base for its Central Otago operations.
Mr Campbell said the future depot will ''act as a springboard'' for its operations as it looked to expand further into the Central Otago market.
The company was also in the early stages of establishing a carbon neutrality programme, he said.
