Pace has increased product volume threefold, growing shipments of its set-top boxes to 8.5 million units in the six months to June 30, 2009.
The Saltaire-based company has reported pre-tax profits of £31.0 million (€35.9 million), compared to £10.5 million in the six months to June 30, 2008. Considerable benefit has been drawn from the integration of Pace France, the former set-top division of Philips Consumer Electronics, which made a 70-day contribution in the prior year period.
Pace CEO Neil Gaydon said the half-year results showed the Pace Group to be on track to meet the upgraded management expectations released earlier this year. “Pace is taking full advantage of the growing global demand for our products and technologies in digital pay-TV markets, which, when coupled with our scale and excellent operational execution is enabling us to grow operating margins.”
Pace has announced its first operator customer for the MultiDweller technology the company has been promoting at a number of expos over the last few years. Canal Digital will use the product to deliver its pay-TV line-up to apartment blocks in the Scandinavian market. Many consumers in the region purchase pay-TV services direct from their landlord as part of their monthly rent.
In recent months Pace has also secured a lucrative contract to supply HD receivers to Sky Deutschland. It has also commenced shipments of HD boxes to US cabler Comcast.
Average selling prices have fallen from £83 to £62 largely resulting from a change in the product mix resulting from lower priced products within the Pace France portfolio.