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Pace to meet its H1 expectations

Mon Jul 6, 2009 3:34am EDT

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A Pace set-top box is seen in an undated handout photo. REUTERS/Pace/handout

(Reuters) - Set-top box maker Pace (PIC.L) said on Monday it was on target to meet management expectations for the six months ended June 30.

The company, which makes devices for BSkyB (BSY.L), Comcast Corp (CMCSA.O) and Canal Plus (CNLP.PA), said in April it was benefiting from increased demand for digital and high-definition television services.

"The strong operating performance anticipated for the full year that was outlined in our trading update on 7 April 2009 and reiterated in the AGM statement on 22 April 2009 remains unchanged," Chief Executive Neil Gaydon said in a statement.

Pace shares, which have gained 59 percent in the past 12 months, were up 1 percent at 201 pence on the London Stock Exchange at 8:20 a.m.

(Reporting by Tresa Sherin Morera in Bangalore; Editing by Kavita Chandran)


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