Pace has increased the number of receiver shipments by 55% to 2.8 million in the half year to June 30, 2008. The technology company also boosted revenues by 22% to £231.1 million compared to the six months to December 1, 2007 with pre-tax profits reaching £11.2m.
The leading light in the company’s continued renaissance has been Pace France, the former Philips Set-top Box and Connectivity Solutions business, which recorded revenues of £75.4m on volumes of 1.4m set-top boxes in the period between April 21 and June 30. Such figures are representative of the level of shipments that have come from the recently acquired division in previous years.
Amid continued pressure on set-top box prices, Pace improved its gross margins, up slightly from 20.7% for the six months ended December 1, 2007 to 21%. The company has recently changed its financial year leading to the disparity in some of the dates. The second half of the 2007 financial year ran the month of December 2007.
Announcing its interim results Pace also confirmed the identity of the ‘mystery’ US cable operator that had placed a significant order for cable set-tops as Comcast. In recent months there have been ten new HD PVR products released including those for Foxtel, UPC, Viasat, Sky Italia and Sky New Zealand.
