Advertisement

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.

Advertisement - Article continues below

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

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

OBR: UK house prices could fall by 12% next year
House prices

OBR: UK house prices could fall by 12% next year

The Office for Budget Responsibility says UK house prices could fall by as much as 12% next year. John Stepek looks at how likely that is.
14 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
We’re spending more than at any time since World War II – how will we pay it back?
UK Economy

We’re spending more than at any time since World War II – how will we pay it back?

With the UK spending vast sums on stimulus measures, this year’s budget deficit will be greater than at any time since World War II. The big question,…
14 Jul 2020