Record revenue puts Pace in Top 3

The acquisition of the former Royal Philips Electronics and an overall increase in receiver shipments has transformed Pace into the top three players in the global set-top box market.

In the past 12 months the Saltaire-based company has launched over 20 high definition PVR products and a new cable decoder to help US MSO Comcast in the transition to digital television, the largest order in Pace’s history.

The company achieved record growth in revenues and shipments of £745.5 million (€830.89m) and 13.1 million respectively. Profit before tax was £13.8m, compared to £15.4 million in the seven months to December 31, 2007, as Pace change its financial year. The former Philips division now known as Pace France contributed £8.4 million of profit.