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The Icon Bar: News and features: Pace Post Profits

Pace Post Profits

Posted by Richard Goodwin on 09:30, 9/1/2001 | ,
While major desktop companies are bemoaning the slowing down of sales, set top box manufacturer Pace has announced better than expected growth.

Pace - who bought the last vestiges of Acorn for its STB knowledge and still holds the rights to most of RISC OS - reported better-than-expected pre-tax profits of £17.9m, up 41%. Turnover was up 31% to £205.8m, and engineering headcount was also up 41% to 511 people.

Although 87% of its revenues are from the UK, Pace will begin shipping cable boxes to Time Warner in the spring as part of its expansion plans into the US.

If you have shares in the company, The Times reports that although shares have dropped from £12.46 over the past 12 months this latest news has seen a 66¾p rise to 519½p yesterday.

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The Icon Bar: News and features: Pace Post Profits