Renaissance dancing on back of iPod

IT company Renaissance has reported a 72 per cent increase in net profit last year.

The company yesterday posted a net profit of $2.3 million for the 12 months ended December, up from $1.3 million for 2003.

A final dividend of 5.5c a share, partly imputed to 1 cps, will be paid on April 1.

Renaissance said most of its key markets grew significantly over the year, including retail, networking and security, communications and education.

The company, which is the exclusive distributor of the iPod in New Zealand, said the global popularity of the portable music player was reflected in the performance of its Apple Computer division.

Sales were also strong for a new model iMac, which started shipping in October.

- NZPA