Pace warning hits share price

first_img Pace warning hits share price whatsapp Show Comments ▼ Pace, the world’s biggest maker of set-top boxes, said a US customer was delaying a big order to 2012, reducing its 2011 sales growth and wiping some £100m off its stock market value. The setback overshadowed strong underlying profit growth and an upbeat longer-term outlook, sending Pace shares more than 15 per cent lower as it set an outlook for revenue growth of around the same level as the 17 per cent seen in 2010. Adjusted core earnings rose 36 per cent in 2010 to £103.6m after it shipped 22.2m devices for cable, satellite and IPTV customers such as Comcast, DirecTV and AT&T. Analysts at RBS said the results were higher than they had expected. Tuesday 8 March 2011 7:22 pm KCS-content whatsapp Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img

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