Pace profit up 168 per cent

SET-TOP box maker Pace met analyst expectations with a 168 per cent rise in profit for 2009, and said it had agreed to buy French cable and Internet firm Bewan Systems for up to £11.4m.

Pace, which makes boxes for BSkyB, Comcast Corp and Canal Plus, posted adjusted pre tax profit of 76.5m as revenue grew 52 per cent to 1.13bn.

Analysts expected the Saltaire-based company to report pretax profit of 75.7m on revenue of 1.11bn.

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Pace said it entered 2010 with good demand for its products, particularly high-definition television, and it expects mid-single digit revenue growth for the year.

The firm said buying Bewan Systems would boost its gateway business, which combines internet services with cable television.

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