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.