Pace on target for ’09

[khurramdar]

Pace on target for ’09     
Written by Chris Forrester  
Thursday, 07 January 2010 20:33
pacenewlogoSet-top box TV technology company Pace will not formally release 2009 numbers until March 2. Nevertheless, the company is “on target”.

A statement made Jan 7 to the London stock exchange said: “[Pace] is on target to meet management expectations for the twelve months ended 31 December 2009.”

Neil Gaydon, CEO commented: “2009 was a record year for Pace with excellent growth in shipments, revenue and profitability as we delivered against our strategic, commercial and operational targets. We also continued our careful management of the balance sheet, closing the year with a positive net cash balance of over £70m.”

Pace’s share price fell back somewhat (10p, from 210p) on the news. Back in October its price was nearer 240p.

© Rapid TV News 2010