Mr de Buyzer presented the council-controlled trading organisation's half-yearly report - to December last year - to the council on Tuesday.
Whitestone profitability was ''down a little'' on the relevant period for the previous year, which was ''a little disappointing'', but he said he hoped it would rectify itself in the second half of the year.
On a couple of local projects, the civil construction company had offered ''quite a price differential'' compared with their competitors. The result was also due to ''a small number of projects not meeting expectations.''
The Whitestone report notes the company had undertaken ''a detailed analysis of those outcomes to avoid any repetition'', but Mr de Buyzer declined to elaborate on Tuesday, citing commercial sensitivity.
The report notes total revenue for the half-year was $12.4 million, a 12.55% increase on the previous year.
But the company achieved a $332,978 profit pre-tax, sponsorship and subventions.
