UK set-top box specialist Pace issued a statement to coincide with its AGM on April 16, saying that its first 15 weeks of trading were “encouraging” and in line with expectations.

Allan Leighton, Pace’s chairman, added “The business is benefitting from a stronger operational focus and this is delivering tangible benefits in procurement, operating efficiency and costs. Profitability in the period continues to be impacted by HDD supply issues but is in line with our expectations. Cash performance in the period has been strong and the financial position of the company remains robust.”

Leighton says that prospects for 2012 will see Pace widen its product offerings and strive to achieve a “leaner, more profitable business underpinned by strong underlying cash flow”.

Pace’s share price has seen some recent significant gains (March saw its share price rise to 90p, for example) following on from the catastrophic fall last year (which took its share price down to 44p). Monday’s opening price saw a modest improvement from 71.5p to 73p.

Other posts by :

1. Rakuten makes historic satellite video call
2. Rocket Lab confirms D2C ambitions
3. Turkey establishes satellite production ecosystem
4. Italy joins Germany in IRIS2 alternate thoughts
5. Kazakhstan to create museum at Yuri Gagarin launch site
6. AST SpaceMobile gets $42 or $1500 price target
7. Analyst: GEO bloodbath taking place
8. SES AGM results: Appaloosa still objecting
9. SpaceX’s Shotwell worth $1.2bn

Categories: Articles, Business, In Home, Results, STB