Thai floods hit Pace profit for next year

Set-top box manufacturer Pace yesterday warned that continuing supply chain problems following the Thailand floods would hit profits in 2012.

The group expects next year’s performance will be dented by up to $50 million (£32m) after key suppliers of hard disks were disrupted by the worst flooding in the country for 50 years.

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It also confirmed the disaster will knock $9.5m from 2011 profits. Shares fell by 24 per cent.