The New Zealand distributor of Apple products is celebrating the effect of the iPod on its share price.
Renaissance announced that pre-tax profit for the first three months of 2005 should be "comfortably in excess" of the $1.2 million for the six months to June 2004, writes Stuff New Zealand.
Growth in profitability from the second half of 2004 was a "quantum leap", led by sales of iPods, iPod minis and iPod shuffles, according to Renaissance MD Paul Johnston.
Following Friday's annual meeting Renaissance's share price shot up 20 per cent from 84 cents to $1.01. It closed on $1.