The British leading STB manufacturer and technology solution provider to the Pay-TV and broadband service industries Pace Plc has registered gross profit up by 5.4 percent. Adjusted EBITA was $106.3 million against $96.3 million last time. Profit after was up 9.3 per cent to $55.4 million against $50.7 million and the to June 3oth diviend was lifted 23 per cent to 2.25c per share.
According to the company the increased operating profit was due to Aurora contribution, improved revenue mix, improved supply chain efficiency and increased operational efficiency. Company official reveals that, Aurora Networks has been a great addition to the Pace Group. The integration has been successfully completed and the underlying demand for Aurora products is well ahead of our expectations with record levels of orders.
Commenting on the results, Mike Pulli, Chief Executive Officer said: “I am pleased to report we have had a successful first half of the year and have made considerable progress. Pace is continuing to evolve into a more profitable, cash generative business with a broader spread of customers. As expected, revenue was lower than the comparable period, however, we have delivered strong profit and cash flow growth through the contribution of Aurora, a better mix of revenue, improving supply chain effectiveness and improving operating efficiency.”