Pace on course to meet full-year expectations

UK-based set-top box manufacturer Pace has issued an interim management statement stating that it is confident of achieving the management’s expectations for the full year, with the company’s operating margin expected to increase slightly over the first half of the year.

Pace said that in the four months since June 30, group revenues and volume deliveries remained on track and that it ‘has maintained a strong balance sheet and robust financial position’. It said average selling prices are increasing compared to the first half due to a greater proportion of HD DVRs in the product mix.