Local contracting company QRS has returned a $1,050,000 end-of-year dividend to its owner – the Wairoa District Council.

The Council-Controlled Trading Organisation reported revenue of $47 million for the year, up $14 million from the previous year, with a pre-tax profit of $4.3 million, representing a 42% percent return on investment for the Council.

In reporting to the Council, Board Chair Guy Gaddum said that while QRS had a stellar year, the company acknowledged it was on the back of a terrible time for the Wairoa district.

“We had been setting ourselves up to be in a response position, which meant that when the district was faced with adversity, we were able to get on with the work that was needed.”

The $1,050,000 dividend is the same distribution as the previous year.

QRS also contributes over $10 million in wages to its growing workforce, invests $335,000 into staff training and contributes $205,000 in sponsorship to local projects.

The next 12 months will see the company position itself for the future by continuing to work in collaboration with the Council, diversifying into complementary businesses, growing local talent and supporting the community.

Wairoa Mayor Craig Little said the success and capability of the locally based company is critical to Wairoa. “QRS is a successful CCTO that directly supports our community through employment and training. It is rewarding to watch QRS achieve and grow across many levels while remaining competitive. This success is also, in part, due to the work of the Council staff in securing external funding for projects for which QRS has successfully contracted which demonstrates a true partnership.”

At the recent Council meeting, elected members also supported the concept of growing aspiring directors through a QRS intern director programme.

The scope of the programme is still being finalised and aims to support potential directors by providing the experience of working with the QRS Board and assisting in building a governance portfolio.

1 November 2024

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