Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Pace Reports 50% Increase in Profits

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

LONDON -- Pace  (LSE: PIC  ) , a leading global developer of PayTV and broadband technologies and products, revealed preliminary full-year results that were full of good news today.

The company reported that revenue had risen 4.1%, to $2,403 million, earnings (before deduction of interest, tax and amortization) were up almost 12%, at $158 million, and profit after tax was up 50.5%, at $58.4 million, perhaps reflecting the company's new focus on improving operating efficiency.

Basic earnings per share rose 47% to $0.194, and the board proposed a final dividend of $0.0306 per share, bringing the full-year dividend to $0.045 per share, up 20% on 2011.

The company reported that it remains the sole supplier to the largest cable, satellite, and telecoms operators in North America, and remains confident about the long-term strength of the market for its products in that region.

Pace is also now providing products to eight of the 10 largest pay-TV providers in Latin America, and anticipates strong revenue and profitability from key markets and customers in the region in the future.

Europe, however, presents more of a challenge, with a far more fragmented territory, although Pace expects significant growth in the fast developing "media server" segment of the market, and has already been awarded contracts from leading operators in Belgium and Norway.

Pace blamed disruption to its supply of hard disks in the first half of 2012 for a decrease in revenue from its "rest of the world" businesses -- which cover highly diverse markets from its traditionally strong Australasian region, to the Middle East, Africam and India -- but anticipates "significant growth opportunities" with the continued digitization and uptake of PayTV services in "greenfield" markets.

Mike Pulli, chief executive officer, commented:

I am pleased to report that Pace has performed impressively in 2012, by delivering increased operating profits through both top-line growth and operational efficiency, with a particularly strong second half of the year. We have made good headway on executing our strategy and Pace is becoming a more profitable, cash generative company.

We have momentum, a sustainable platform to build from, and we expect to make further progress in 2013 and beyond.

Pace has performed very impressively since a new executive management team was put in place in Q1 of 2012 -- the company's share price is 20% up so far this year, and a remarkable 180% up on this time last year.

Here at The Motley Fool, our analysts have been focused on finding "The Motley Fool's Top Growth Share For 2013" for our readers, which is named in our latest report, only just released.

It's completely free of charge, but like all special reports from TMF, it will only be available for a limited period, so get your copy delivered to your inbox now!


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2294581, ~/Articles/ArticleHandler.aspx, 10/27/2016 7:08:39 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,199.33 30.06 0.17%
S&P 500 2,139.43 -3.73 -0.17%
NASD 5,250.27 -33.13 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
PIC $0.00 Down +0.00 +0.00%
Pace CAPS Rating: No stars