Update: Renaissance to report “spectacular” results

Renaissance CEO Richard Webb has told The Channel that the Onehunga-based distributor will soon announce a "spectacular" set of financial results for the last six months of business.

Webb said, “Our business has grown significantly in the last six months, as you’ll see in our upcoming earnings announcement.

“We have a very large services arm that has expanded significantly. We have a technical as well as a product training group that’s fairly large and we’re one of the largest vocational companies specialising in digital media in this part of the world.”

Despite recent reports of unhappy vendors and key members of staff leaving the company, Webb says the business is "firing on all cylinders” because of recent changes to the company, which now sees clients dealing with a single Renaissance contact.

“There’s no doubt there’s been a huge amount of change to deliver this,” he continued. “Naturally when you run a silo and are beholden to yourself and you have a lot of independence, you don’t like the fact that you have to do some things. But the fact is we’ve been able to completely transform a 400-person company and deliver spectacular results.”

Renaissance recently confirmed that Warwick Grey is its new Chief Marketing Officer and that MagnumMac has returned to profitability.

Update: The company's shares yesterday reached a 52-week high of 32 cents, which is up 68% over recent record lows of 19 cents.