Pace climbs on new orders
By Julian Clover
April 8, 2009 09.59 UK
Demand for high definition TV and personal video recorders has led Pace to issue the second upgrade to its forecasts in five weeks.
In a statement the technology company said the combination of a strong market demand and an enhanced market position had resulted in further orders from both new and existing customers. “Pace now expects that its performance will result in a very significant increase on management’s expectations for 2009 and also that it will be in a strong position as it enters 2010”. Pace described the improvement as “an exceptionally positive situation”.
The announcement took Pace to a 52-week high of 155 in early trading on the London Stock exchange, rising by over a third in value, before falling back to 145 by mid-morning.
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