10 Oct 2009

Apple reseller issues profit warning

8:13 am on 10 October 2009

New Zealand's largest reseller of Apple products, Renaissance Corporation, has issued a profit warning.

The Magnum Mac owner is forecasting it will earn a pre-tax profit of $700,000 compared with an earlier expectation of between $1.7 million and $2 million.

Renaissance says its predictions are hazardous because its final result relies heavily on the December quarter.

It says despite good sales growth, earnings have been affected by tight margins from Apple and the cost of a new computer system in stores.