Menu
Renaissance takes step toward profit recovery

Renaissance takes step toward profit recovery

Revenue up seven percent on 2009.

Renaissance Group has posted an after tax profit of $473,000 for the first half of 2010, up 150 percent on the previous corresponding half year but well short of the after tax surplus of $1.46 million it announced for the corresponding 2008 half year. In the latest half year announcement, the company's revenue was up seven percent for the period year on year, to $100.8 million. Net debt was reduced from $3 million to below $500,000.

For the full 2009 year it posted a before tax loss of $2.7 million.

CEO Richard Webb says Renaissance began the year by restructuring the business around clients instead of products and encouraged staff to cross-sell the group's offerings to its retail and reseller community.

"Despite the impact of restructuring costs we delivered top line revenue growth across all sectors, introduced a wide range of new service offerings and continued to add class-leading vendors to our distribution business,” he says.

Read more at Reseller News.


Follow Us

Join the newsletter!

Or
Error: Please check your email address.

Tags renaissance

Featured

Slideshows

Data breach notification laws in NZ: How can partners prepare?

Data breach notification laws in NZ: How can partners prepare?

This exclusive Reseller News Roundtable outlined the responsibilities facing security partners today, assessing risk while evaluating the role of the vendor in providing added layers of protection.

Data breach notification laws in NZ: How can partners prepare?
Meet the leading StorageCraft partners across A/NZ

Meet the leading StorageCraft partners across A/NZ

StorageCraft honoured its top performing partners across Australia and New Zealand (A/NZ), recognising channel excellence following a strong year of growth.

Meet the leading StorageCraft partners across A/NZ
Show Comments