Set-top box maker Pace is looking forward to a world cup finals boost this summer but the market does not appear to share its optimism, with the shares down following an in-line trading statement.
Traders appear to have been pinning their hopes on upside surprises from Pace, which says it expects "mid single digit revenue growth" for the full year with trading continuing in line with the company's expectations. That outlook echoes an analysts' forecast for a 5% rise in sales to £1.2bn.
Pace, which supplies receivers and recorders to work with systems of numerous pay-TV companies such as BSkyB and BT, hopes this summer's football broadcast in new hi-tech formats will boost orders from a position of already "good demand".
Chairman Mike McTighe comments in a trading statement today:
"The FIFA World Cup, which will be broadcast in HD and 3D formats, will result in first half performance being ahead of the second half as operators ship ahead of this major sporting event. Overall the group continues to look forward to another successful year and has maintained a strong balance sheet and robust financial position."
The shares are currently down 6.6p, or 3.4%, at 190.4p putting them among the biggest fallers in a FTSE 250 down 56 points, or 0.5%, at 10391.
