Pace forecasts rise in half-year revenues and profits

Pace, developer of technology for PayTV and broadband, expects an increase in revenue in the first half of the year as demand grew for its media server products in North America.

Pace, developer of technology for PayTV and broadband, expects an increase in revenue in the first half of the year as demand grew for its media server products in North America.

During the first half of the year, the company won contracts with major cable operator Liberty Global and broadband and telecommunications provider Telefonica.

Pace will provide its media service products to Liberty Global's operations in Europe and its high definition zapper and PVR devices to Telefonica's IPTV operations in Latin America.

The company said its pipeline of new business remains strong across all areas of its software and service offerings.

"I am pleased to report that Pace has made an encouraging start to the new financial year with strong revenue growth in the period, in line with our expectations," said Chairman Allan Leighton.

"We expect revenue for the first half of 2013 will be ahead of the first half of 2012, driven largely by continuing demand for media server products in North America and the comparative half being impacted by hard disk drive supply disruption."

"Profitability is in line with our expectations and the robust cash flow generation has continued."

Shares rose 1.77% to 236.10p at 09:58 Wednesday.

RD

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