Sharechat Logo

Renaissance ekes out 9-month profit as sales gain

Monday 29th November 2010

Text too small?

Renaissance, a New Zealand distributor of Apple products and education software, posted a profit in the nine months ended September 30, as sales rose.

Earnings before tax were $466,000 in the nine months, from a loss of $1.1 million a year earlier, the company said in a statement today. Sales rose 10% to $154 million.

Renaissance changed its balance date to September 30 from December 31, saying it wanted to shift the "volatile" December quarter to the first quarter of the new year. Apple announced it had appointed a second distributor of its products in September.

The IT industry "continues to exhibit significant structural changes related to the introduction of virtualisation and cloud computing," said chief executive Richard Webb.

The shares fell 3% to 31 cents and have climbed 45% this year.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO