Pace predicts bumper results

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SET top box maker Pace said 2012 results should beat expectations, helped by higher demand for its next-generation media server products in North America.

The Saltaire-based company, which supplies decoders to broadcasters, said revenue for the year to December 31 is expected to be about $2.4bn (£1.5bn), a four per cent rise from last year.

Media servers connect TV and internet broadband content with any screen in customers’ homes, including smartphones, laptops, set-top boxes and tablets.

Pace expects underlying operating margin to increase by about seven per cent and said it anticipates adjusted core earnings to be at least $157m (£98m), up 11 per cent on the previous year.

Pace’s shares were up six per cent at 204p on the London Stock exchange. The stock has more than doubled in value in the past year.