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!

Error: Please check your email address.

Tags renaissance

Featured

Slideshows

Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments