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Pace floored by Thai flood
Thu, 20th Oct 2011 08:43
Pace, the Yorkshire-based maker of set top boxes, could see $9.5m knocked off its operating profit this year because of floods in Thailand.The hard disks that Pace uses in its products are manufactured in Thailand by the company Western Digital. Western Digital's factory has been hit by "severe flooding" forcing it to suspend production. As a result of the lost shipments Pace believes its operating profit for 2011 is now "likely to fall below previous guidance of $150m-$170m."Shares in Pace fell 15.2% on the news.BS
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