2 Mar 2012

Bad year for Renaissance

1:05 pm on 2 March 2012

Apple re-seller Renaissance Group describes the year to the end of September as a year from hell.

However, chairman Colin Giffney, told shareholders at the annual meeting in Auckland on Friday, that the board believes the company is well past the worst of the effects from the earthquakes and troubles with the potential sale of its Apple distribution business.

Mr Giffney says the company is now entertaining two offers and has identified a perferred bidder, but it's now up to Apple to decide.

Renaissance expects earnings for this financial year to total $3.1 million. Targets for both January and February were exceeded.