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Pace and Amstrad suffer


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There was every reason for Pace Micro’s plummeting share price today as the set top box maker warned after the close yesterday that profits would miss expectations.

Another loser came by way of electronics group Amstrad, which also produces set top boxes with BSkyB, as chairman Alan Sugar appeared to suggest the company would do well to match last year’s profits in the current year.

Margins came under pressure on the back of fierce price competition on large orders while the company also booked a £5.7m stock write-down as sales of its e-mailer slowed down.

Source: Sharecast