iPod helps bring about a Renaissance

New Zealand's love affair with the iPod music player has helped local distributor Renaissance double its profits for the year to December.

The company - which yesterday posted a record net profit of $5.1 million - has exclusive distribution rights for Apple computers and iPod music players.

The players, which have swept the world rejuvenating Apple in the process, are largely responsible for the dramatic growth at Renaissance.

Apple sold 14 million iPods in the last quarter of 2005.

Renaissance was not prepared to disclose how many were sold locally.

Chairman Richard Ebbett said the Apple Computers division of Renaissance was growing at a similar rate to Apple worldwide.

Strong sales of iPods were creating a "halo effect" whereby users of the music player were more likely to go on to buy Apple computing systems.

"As a result, we have seen a major increase in unit volumes and profitability," Ebbett said.

Renaissance reported a 30 per cent increase in revenue - up from to $120 million to $155.6 million. The company's Christchurch-based PC assembly business also contributed.

Directors announced a fully imputed dividend of 6c a share. Renaissance shares closed at $1.53 yesterday - up 3c.