LONDON (ShareCast) - Set-top box maker Pace said it has continued to make good progress across all of its global markets in the first half.

Due to a beneficial US Dollar/Euro exchange rate, the Pace France business, which was initially expected to be loss making for 2008, is now profitable and the board expects that the group's outturn for the year will significantly exceed current expectations.

“Pace continues to see growth opportunities in the market for digital TV, which it is in a strong position to take advantage of thanks to the diversified geographical and product spread of its enlarged business,” said the group.

“These factors and ongoing improvements within the Pace business, provide the board with greater confidence in the group's 2009 performance, which is now expected to be ahead of the board's previous estimates,” it added.

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