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Digital TV Promotions Push Pace Into The Black

Digital TV Promotions Push Pace Into The Black

Set-top box manufacturer, Pace Microtechnology, has today posted pre-tax profits of £15.1 million for the year ended 29 May 1999. This compares to a loss last year of £12.1 million. Aggressive promotions by BSkyB and ONdigital, culminating in the offer of free set-top box equipment for digital television customers (see ONdigital Returns Fire In DTV War), have help push Pace into profit this year.

Turnover at the West Yorkshire-based group was £182.8 million, very slightly down on 1998. In January this year, Pace announced that it had ceased production of its analogue products in order to concentrate solely on the emerging digital market (see Pace Ceases Production Of Analogue Equipment). As well as providing hardware for Sky and ONdigital, Pace also has deals with cable operators Cable & Wireless Communications, Telewest and NTL.

Shares in Pace fell by 7p to 202˝p this afternoon.

Pace Microtechnology: 01274 532 000

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