Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, Update High expectations for Pace in '09 at General Satellite News forum; High expectations for Pace in '09 Rejuvenated TV technology company Pace said it would significantly raise expectations for 2009 after ...

LinkBack Thread Tools Display Modes
Update High expectations for Pace in '09
Bacteria's Avatar
Posts: 96,015

Level: 124 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 4638 / 4638
Magic: 32005 / 104891
Experience: 68%

Thanks: 1,107
Thanked 5,578 Times in 1,419 Posts
Join Date: Oct 2006
Age: 37
Update High expectations for Pace in '09 - 04-March-2009, 13:30

High expectations for Pace in '09

Rejuvenated TV technology company Pace said it would significantly raise expectations for 2009 after what CEO Neil Gaydon called an excellent set of results for 2008.

Both set-top box shipments and revenues reached an all-time high, with 13.1 million set-top boxes including 6 million from Pace France shipped during the year. That compared with 2.4 million in the seven months to the end of 2007 (the comparative period as Pace changed its fiscal year-end to December in 2007). Pace France has given the company a huge boost since Paces acquisition of the then-Royal Philips Electronics in April 2008.

Pace is now one of the top three set-top box companies globally and says its number of high definition PVR products available 20 is unmatched by any competitor.

Revenues rose to 745.5 million for 2008, compared with just 249.9 million for the seven months previously. Pace France contributed revenues of 292.9 million and pre-tax profit of 8.4 million while organic growth saw revenues increase to 452.6 million and pre-tax profit to 20.1 million.

Adjusted group profit increased significantly to 28.5 million, compared with 15.4 million although overall pre-tax profit was down from 15.4 million to 13.8 million. However, Pace has initiated a dividend, recommended at 0.6p per share.

CEO Gaydon said: We set out our ambitions to grow Pace's market share, but we have also placed a major emphasis on building a resilient business: I am very pleased to see that this strength enabled us to deliver such strong growth against a backdrop of economic downturn.

"The payTV sector is a major focus for the Group: the service delivered by the payTV industry to consumers is one of the best value forms of home entertainment available, and the increase in availability and quality of these services, such as high definition and PVR capability, is driving rapid growth in the sector. Our focus on having the right products, at the right time, to fuel the digital TV revolution has delivered excellent results and we will continue to grow market share.

But Gaydon said that despite the positive outlook, the company continues to take a prudent and cautious view of the market. Paces Board has decided to pay a dividend due to, among other things, new business wins and good order visibility.
Reply With Quote


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump

ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.