7th Apr 2009 17:09
Pace plc Trading Update
7 April 2009: Pace plc, the leading independent developer of digital TV technologies for the global payTV industry is today announcing a very significant upgrade on its current performance expectations for 2009.
Since announcing preliminary results on 3 March 2009, demand for Pace's products has increased across many of the Group's global markets and technologies. Pace's improved market position, the breadth of its product offering and track record for innovation and delivery means Pace is increasingly viewed as a supplier of choice by many of its payTV operator customers. This combination along with strong market demand and enhanced competitive position has resulted in further orders from new and existing customers to fulfil consumer demand for digital and high definition services. At the same time Pace has continued to benefit from its programme of operational synergies and business efficiencies to improve margin performance across the Group.
Consequently, Pace now expects that its performance will result in a very significant increase on management's expectations for 2009 and also that it will be in a strong position as it enters 2010. The market for high-end products is growing rapidly, even in an advanced market such as Western Europe, less than 2% of television households are so far subscribing to a high definition TV service (Screen Digest data, April 2009). The Pace Board recognises that these factors have created an exceptionally positive situation for Pace, which is expected to continue, reflecting the strong foundations established over the last three years.
A conference call for analysts and investors will be held at 9.00am on 8/4/09, please email [email protected] or call 020 7396 5313 to register.
Pace will issue a combined IMS and AGM statement on 22 April 2008.
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Contacts
Jonathan Glass/Aideen Lee Helen Kettleborough
Brunswick Pace plc
+44 20 7404 5959 +44 1274 538005
About Pace plc
Pace plc (LSE:PIC) is a leading technology developer for the global payTV industry, working across satellite, cable, IPTV and terrestrial platforms.
Pace has one of the world's most experienced specialist engineering teams, developing intelligent and innovative products and services for both payTV operators and retail markets across the world. Pace employs over 900 people in locations around the world, including France, the USA, India and Hong Kong. Pace's international headquarters are in Saltaire, West Yorkshire, UK.
For more information on Pace, please visit www.pace.com.
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