Pace 'on track' for interim 2009 results

Pace has announced that it is on track to meet the financial expectations of its senior management for the first half of 2009.

On July 27, the pay TV set-top-box manufacturer will publish its interim financial results for the six months up to June 30.

Buoyed by continued strong performance of its cable, IPTV and satellite customers, the company is now ready to report solid financial results for Q1 and Q2.

Chief executive Neil Gaydon said: "Pace has continued to capitalise on its excellent position in the growing global market for digital TV technology.

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

Back in April, Pace upgraded its financial performance guidance due to the significant growth in consumer demand for pay TV services.

The company has also pointed to the increased popularity of high definition products as providing "an exceptionally positive situation for Pace".