Pace to meet forecasts

Digital TV set-top box maker Pace said it is on target to meet management expectations for the twelve month ended 31 December. Chief executive Neil Gaydon said: '2009 was a record year for Pace with excellent growth in shipments, revenue and profitability as we delivered against our strategic, commercial and operational targets.' 'We also continued our careful management of the balance sheet, closing the year with a positive net cash balance of over £70m.' Pace will announce its preliminary results for the twelve months ended 31 December 2009 on 2 March.