Hopes for Pace spark shares rise
Wednesday 07 March 2012
Shares in the TV set-top box maker Pace yesterday jumped 10 per cent as traders hoped that the chairman, Allan Leighton, and his management team can turn it around.
Pace admitted that its pre-tax profits crashed by half to $54m (£34m) in 2011. But the firm offered some hope as it expects underlying growth of 7 per cent this year.
The shares, up 9p to 90p, have doubled from a low of 43p in November.
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