Member Article

Pace reports impressive pretax profits and are 'confident' of better 2015

Saltaire-based Pace plc, a developer of technologies and products for PayTV and broadband service providers, today announces its results for the year ended 31 December 2014.

Profit before tax for the year increased $175 million from $130 million in 2013 and revenue was reportedly up 6.1% to $2.62 billion on last year’s $2.46 billion.

Revenues for 2015 are expected to be in the region of $2.75 billion.

Mike Pulli, chief executive officer said: “I am pleased to report we have had a very successful year making considerable progress in all areas of the business.

“Pace is continuing to evolve into a more profitable, cash generative business with a broader spread of offerings and customers and finishes the year in a strong position.

“The strong performance in 2014 and the momentum of the business going into 2015 give the Board confidence to increase the final dividend by 29.8%.”

This was posted in Bdaily's Members' News section by Clare Burnett .