Pace have fallen a lot over the last 6 months. The move to digital is near, do you think they can recover. Presently way off previous highs.

Statement re appointment of new Chairman

Saltaire, 31 May 2011: Pace plc today announces the proposed appointment of Allan Leighton as its new Non-executive Chairman and the retirement of Mike McTighe, who will be stepping down after ten years as Non-executive Director including five as Chairman.

The Board is pleased to have recruited Allan Leighton, former CEO of Asda and former Non-executive Chairman of the Royal Mail. Allan has today joined the Board as a Non-executive Director and is expected to be appointed Chairman over the summer months, allowing a period for Mike and Allan to undertake an orderly transition of responsibilities.

Gap to be filled but U know what they say about profit warnings coming in 3s. Certainly didnt like the way this company were having to reduce margins at last results. Will keep an eye out on it but not for me until more positive news.

Goldfinger - agreed. I'm in from mid 90s and 102 with stop in place, so I'm happy. These made me quite a lot of money late last century!

Has done for me aswel Skinny but looking at chart weve had 2 profit warnings so third may be on its way. Like U say tight stop loss.

RNS Number : 0297L

Pace PLC

26 July 2011

Pace plc Interim Results for the six months ended 30 June 2011

Pace on track to meet revised May 2011 guidance

Saltaire, UK, 26 July 2011: Pace, a leading developer of technologies, products and services for global broadband and broadcast markets, announces its results for the six months ended 30 June 2011.

Financial Highlights1

-- On track to meet revised May 2011 guidance

-- Revenues increased 21% to $1,187.1m (six months ended 30 June 2010: $978.2m)

o Increase acquisition-related; organic revenue down 3.5%

-- Gross margin 19.0% (six months ended 30 June 2010: 18.6%)

o Organic gross margin 15.6% (six months ended 30 June 2010: 18.5%)

o Acquisitions gross margin 31.7% (pro forma six months ended 30 June 2010: 27.5%)

-- Profit before interest, tax, and amortisation (EBITA) $68.4m, giving return on sales of 5.8% (six months ended 30 June 2010: $73.3m, return on sales 7.5%)

-- Basic EPS of 7.1c (six months ended 30 June 2010: 16.5c), with adjusted(2) basic EPS of 17.1c (six months ended 30 June 2010: 17.9c)

-- Interim dividend increased to 1.25c (six months ended 30 June 2010: 1.12c)

-- Net debt at $293.2m (at 31 December 2010: $311.1m)

Operating Highlights

-- Progress made since May 2011 IMS update:

o Inventory management has been normalised, with the majority of the financial impact absorbed in H1

o The Networks business has been re-sized and is no longer loss-making

o Impact of the Japanese Tsunami on potential availability of components has been largely mitigated;

however a small number of at-risk components remain

o Initial corrective measures have been implemented to address the profitability levels in Pace Europe

-- Acquisition-related synergies were achieved earlier and are greater than anticipated

-- Strategic review announced June 2011 underway; aiming to conclude around the time of the Group's Q3 IMS

Commenting on the results, Neil Gaydon, Chief Executive Officer, said:

"Our first half results put Pace on track to meet its revised May 2011 profit guidance3 of $150-170m for FY 2011. Progress is being made on each of the issues identified in May, and we continue to address those issues not fully resolved, particularly in Pace Europe.

"Acquisition-related synergies have been achieved ahead of plan. Additionally, this period has seen continued free cash flow generation, leading to a reduced net debt position of $293.2m.

"The strategic review announced last month is underway, with focus on Pace's strategy and opportunities for business improvements, aiming to conclude around the time of the Group's Q3 IMS."

Outlook

Given the Group's first half performance, including corrective actions identified and implemented, the Board reaffirms its May profit guidance of $150-170m for Full Year 2011.

Directors are selling shares

RNS Number : 5290Q

Pace PLC

20 October 2011

Pace plc

Update on the effect of Western Digital's Thailand factory closure and 2011 Operating profit guidance

Saltaire, UK, 20 October 2011

Following the recent announcement by Western Digital Corporation that it has suspended production of hard disk drives at its manufacturing facilities in Thailand as a result of severe flooding, Pace has completed an initial assessment of the potential impact on its 2011 business. Because Western Digital is the major supplier of hard disk drives to Pace, this will negatively impact expected shipments of products with hard disk drives from this supplier during the remainder of this year.

Pace estimates the worst case impact on 2011 operating profit to be $9.5m, before taking account of possible mitigating actions. As a result, Pace's operating profit for 2011 is now likely to fall below previous guidance of $150m-$170m.

Pace will provide its upcoming interim management statement, together with an update on its strategic review, on 17 November 2011.

There will be an analysts' call this morning at 9am BST.

Out of auction down 13.3%

Profit warning on its way for Pace.

It will interesting to see how the analyst call goes this morning.

On edit - from the last interims.

Given the Group's first half performance, including corrective actions identified and implemented, the Board reaffirms its May profit guidance of $150-170m for Full Year 2011.

I've had a small punt @81.06.

High risk!

Harry - its great buying for yields - sometimes you have to get the blood moving :-)

Its only small - and as you can tell from earlier posts - I've been in and out of these since the mid 1990s.

Volume is up for the first time after it fell below 100p

Interim Management Statement and Strategy Update

Trading update and 2011 outlook

Including the impact of Hard Disk Drive (HDD) supply issues, full year group operating profit1 is expected to be c.$141m on revenues of c.$2.3bn

o With the exception of the HDD supply issue, volume and revenues are in-line with expectations

o Impact of HDD supply issues on 2011 operating profit is expected to be c.$9.5m

o There will be a consequent impact to cash through lost profit and increased working capital, with net debt at year end now expected to be c.$320m-$330m

A consultation is underway on a proposed reorganisation of the Pace Europe business, the details of which are subject to finalisation. A corresponding exceptional charge of c.$12m will be taken in 2011 and the consultation is expected to conclude before the end of H1 2012. The proposal is targeting annualised savings of c.$7m, with c.50% expected in 2012.

2012 outlook: underlying business and impact of HDD supply issues

The Board now expects 2012 group operating margin to be c.7% on broadly flat revenues before the impact of HDD supply issues, reflecting:

o Increased pricing pressure, particularly in North American Cable, impacting group operating margins by c.1%

o Near term cost containment measures to improve operational efficiency, benefiting group operating margins by c.1%

Impact of HDD supply issues on 2012

o Pace's HDD suppliers remain uncertain on capacity and pricing - impact on 2012 revenue, profit and cash flow remains uncertain

o All efforts are being taken to mitigate this, including seeking alternative supplies, working with customers and aggressively managing working capital

o Based on dialogue with our suppliers and customers, and our detailed analysis, our current working assumption of operating profit impact in 2012 is $35m-$50m of which the majority is expected to fall in H1

Taking account of the 2011 and 2012 outlook given above, including our working assumption for the HDD supply issue, we will remain within our banking covenants

Extended auction -12.9%

High risk still expensive.

Warnings 'show Pace is well run'
Katherine Rushton, 20:36, Thursday 17 November 2011

The boss of Pace (Xetra: 901454 - news) has claimed its succession of profit warnings show what a "well run company" it is, after the Yorkshire set-top box manufacturer revealed that flooding in Thailand could wipe a further $50m (32m) off its operating profits in 2012.

Shares in the company plunged by nearly a quarter to 45.9p on the trading update, marking a new low for Pace, which has lost 76pc of its value over the past year.

The business had already shaken investor faith with a hat-trick of revenue and profit warnings this year, including a one in October that the Thai disaster would take a $9.5m bite out of its 2011 operating profits, bringing them down to $141m.

The floods, which have claimed the lives of nearly 300 people and damaged more than 700,000 homes, forced one of Pace's key suppliers, hard-disk manufacturer Western Digital Corporation, to suspend production at its Bangkok factory.

However, Pace has now gone further, predicting that knock-on supply issues will hit the business even harder next year. "Our current working assumption of operating profit impact in 2012 is $35m to $50m, of which the majority is expected to fall in the first half," it said, adding that the impact was still "uncertain".

Neil Gaydon, chief executive, pointed out that the floods had impacted a large number of technology companies, and said the frequency of Pace's profit warnings were a testament to its transparency.

"[There have been a lot] because we're a really well run company so we can give a really clear view of where we are," he said.

A spokesman added that Pace should be commended for correctly assessing the 2011 impact of the floods so fast.

Pace also said it will write off about $12m this year relating to restructuring its European business, designed to strip out $3.5m in costs next year, eventually growing to $7m of annual savings.

In May, Pace lowered its earnings and profits guidance twice, first blaming an upgrade delay at one of its customers, and second blaming the Japanese tsunami.

High risk but this company has a history of climbing back.

Great recovery today.