21st Sep 2005 17:00
Pace Micro Technology PLC21 September 2005 21 September 2005 Pace Micro Technology plc Trading update In the statement issued by Pace Micro Technology plc at its AGM on 6th September2005, the Company announced that the current financial year had started well,with shipments and margins in the first quarter in line with plan, but that somedelays in product development had been experienced. The Company also statedthat overall product shipments would now be more concentrated into the secondhalf than previously expected and that the possibility existed that someshipments may move into the next financial year. Since the AGM, there have been certain changes in the timing and nature ofcustomer requirements and product specifications. The Board has reviewed thesechanges and their impact and has concluded that, while expectations for the halfyear remain unchanged, the Company's profits before tax and exceptional items onan IFRS basis for the full year are unlikely to exceed those of 2005, being£9.1m. There remains significant risk in both the volume and timing of new productintroduction for the current financial year. However, the Company continues tobe focussed on ensuring that customer expectations are met. The Board remainsconfident that Pace is well positioned for a strong performance in the nextfinancial year through its growing share of the US market, sustained share ofthe European market and active pursuit of a number of new opportunities in theUS, Europe and the Far East. -ends- Contacts for further information: Pace Micro Technology plcJohn Dyson /Helen Kettleborough01274 538005 Citigate Dewe RogersonGinny Pulbrook020 7282 2945 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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