Saltaire firm set to announce 'sparkling' results (From Bradford Telegraph and Argus)

Saltaire firm set to announce 'sparkling' results

9:18am Tuesday 7th July 2009

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Bosses at Saltaire-based digital technology group Pace plc are set to announce another set of sparkling results at the end of this month.

They say the company is on target to meet management expectations for the six months trading to June 30.

Neil Gaydon, chief executive, said: “Pace has continued to capitalise on its excellent position in the growing global market for digital TV technology.

“The strong operating performance anticipated for the full year that was outlined in our trading update on April 7 and reiterated in the AGM statement on April 22 remains unchanged.”

Pace will announce its interim results on Monday, July 27.

At the group‘s annual general meeting in April, shareholders heard Pace had become ‘the supplier of choice’ for leading pay TV companies as demand for its products continued to soar .

Chairman Mike McTighe said 2008 had been a “transformational year” and the momentum had continued into 2009.

He said: “The board is delighted with the progress Pace has made since the start of 2009 in its position as a ‘top three’ player in the global market for digital set-top box technology.

“There has been increased demand for Pace’s products across many of the group’s global markets and technologies and Pace is viewed as a supplier of choice by many of its pay TV operator customers.”

Pace, which employs 900 staff, including 450 at its base in Salts Mill, now has more than 100 customers in the pay TV market which is expanding rapidly.

It recently signed a deal to make high-definition set top boxes for Viasat, the largest free and pay-TV operator in Scandinavia and the Baltic States.

In 2008 Pace achieved record revenues of £745m, profits of nearly £30m and cash reserves of £37m.

This year the company also won its second successive Queens Award for Enterprise, this time for innovation following an export award in 2008..

Neil Gaydon said: “We are launching new products this year and developing technologies for new products to be launched next year.

“The high quality and price competitiveness of our products has led to a substantial increase in new orders.”

He said it will be in a strong position going into 2010.

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