Pace set top box targets reached

The Yorkshire based set top box maker, Pace, has announced that it is on track to reach the targets laid down by the company’s management for last year’s trading.

Currently the City is expecting Pace to announce sales of £1.12 billion, £80 million of pre tax profit leaving the company with around £70 million in net cash.

Yet this time last year the company was predicting a profit of just £20 million.

This changed with the market experiencing a serious upturn and with the company taking over rival set top box maker Philips.

The year has been good for Pace, and in the stock market its shares have gone up by a massive two hundred and seventy eight per cent and are currently standing at around £2 per share.