Pace says that continued momentum across the business means the company is showing “good progress” across the business.
However, in a trading update for the period between July 1, 2003 and November 13, 2013, the company said revenues had been reduced because of the impact of dual sourcing by a “large North American satellite customer” [DirecTV].
“The transformation of our supply chain is nearly complete and we are seeing meaningful benefits both operationally and financially,” said CEO Mike Pulli. “Wins with tier one customers reinforce our leadership position in pay-TV hardware and our strategy of widening out our products and services continues to build momentum with wins and deployments across all of the regions we operate in.”
Adjusted EBITA and Return on Sales are higher than the same period in 2012, despite the lower revenue, reflecting the Company’s continued progress towards improved medium term profitability.
Revenues for FY2013 expected to be broadly in-line with 2012, while operating margin for FY2013 is expected to be greater than 7.5%.
Pace has recently established a manufacturing facility in South Africa which enables the company to supply customer premise equipment locally to long-time customer MultiChoice and other operators in South Africa and Southern African Development Community countries.
