Pace profits bound ahead

Adam Hignett
PAY TV technology provider Pace saw shares leap yesterday after yearly results saw pre-tax profits up by over a third.

The FTSE 250 British company, which specialises in the production of set-top boxes and pay-TV software, attributed the good results to its acquisition of Aurora Networks, supply chain efficiency and a seven per cent fall in operating costs.

Full year pre-tax profits were $176m (£114m) up 34 per cent from 2013.