Pace has fought off industry consolidation and currency issues to produce a first half in line with management expectations.

The Saltaire-based company, in the process of being acquired by rivals Arris, saw revenues fall by 5.3% to $1,078.6 million (€973.46 million). Profit after tax increased by 54.2% to $85.4 million.

“Whilst we are focused on closing the transaction with Arris, we continue to make good progress on executing our strategy as a standalone entity; key wins, deployments and increasing demand coupled with ongoing operational improvements give us confidence that we will maintain our momentum and make further progress in the second half of 2015 and beyond,” said chief executive Mike Pulli.

The bullish approach is in contrast to that of Arris, which earlier this month cut its forecasts, saying the Pace acquisition would help it counter the effects of industry consolidation.

Pace has benefitted from increased operational efficiencies ahead of a second half that promises new product launches and increased demand from key customers. In recent months new orders have been picked up from Liberty Global, RCN and Sky Italia/Telecom Italia.

The merger process is continuing in Brazil, Colombia, Portugal and the United States. Approval has already been received from the German and South African authorities.