GLOBAL broadcast and broadband technology group Pace plc is on track for higher than expected profits, according to a trading update.

The Saltaire-based firm said sales in the fourth quarter had broken records with full year sales expected to be six per cent higher at $2,610 million. Underlying operating margins would be ahead of 2013 at not less than 9.2 per cent .

Mike Pulli, chief executive, said: “Pace has performed very well in 2014 with a particularly strong second half to the year. We have launched a record number of products across the globe and continue to lead the market in both product innovation and the service we deliver to our customers.

“Demand from our customers has remained strong and we continue to win new business. The company has made further good progress in the execution of our strategic plan and has achieved improved profitability and strong cash generation for the third year in a row.”

The acquisition of Aurora Networks had performed above expectations and enabled Pace to widen its operations into network infrastructure.

Mr Pulli said Pace was seeking further acquisitions to further strengthen its position as a market leading provider to the PayTV and broadband industries.

“We have good momentum and are confident of making further progress in 2015 and beyond,” he said.

A CURB on promotions boosted Christmas sales figures from Debenhams but failed to prevent fresh questions over its turnaround plans.

The group, which will have an anchor store in the £260 million Westfield Broadway shopping centre, lifted like-for-like sales by 4.9 per cent in the four weeks to January 10 after it boosted online trading by almost a third and held 10 fewer days of sales.

The performance was in contrast to the previous year’s Christmas, when it was forced to issue a profits warning due to poor sales and a botched promotional strategy.

Debenhams reported record group sales in the seven days prior to Christmas and a good performance on Black Friday when an existing promotional event helped sales rise 10.3 per cent over the week. Online orders on the day jumped 125 per cent Meanwhile, Sainsbury’s is set to axe 500 jobs as part of the latest round of cost-cutting in the supermarket industry.

The move coincides with Morrisons decision to axe 10 loss-making stores, threatening more than 400 jobs.

Sainsbury’s said its proposals for the streamlining of its central operations will require around 500 fewer roles, spread across all divisions. and grades in its store support centres.

The steps form part of the £500 million in cost savings outlined by the retailer in a strategic review published in November.