Profits slip at Pace

Hard disk drive (HDD) shortages, and continued weakness in Pace's European business, forced profits at the set-top-box maker to halve in 2011. New chief executive Mike Pulli - formerly head of Pace Americas - says these issues will continue in 2012 and he's therefore expecting flat revenue growth, with continued HDD shortages set to slash between $25m-$35m (£16m-£22m) off cash profits.

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