Dannevirke's customer-owned company Scanpower has had a spectacular increase in earnings in the past two years and is up 31 per cent in the past year.
"Our financial performance has been pleasing over the last year and now close to 60 per cent of our total revenue is coming from areas other than the network," Scanpower chairman Allan Benbow said at the annual meeting of the Scanpower customer trust.
"This is a company with a very strong balance sheet."
Scanpower's earnings were $4.967 million before discounts and tax last year, up $1.192m on the targeted result of $3.775m.
The company's power line contracting produced the greatest year-on-year divisional revenue increase, continuing a four-year period of sustained growth.
"A key driver of this result has been our involvement in the Kapiti Expressway project as electrical/street lighting contractors and ongoing work for electrical lines company Powerco," Mr Benbow said.