Pace reports £1 billion in sales

The satellite and cable set-top-box maker, Pace, has announced that its sales have passed the £1 billion mark for the first time.

However, it also warned that 2010 would be a slower year for the business.

The company had sales of £1.13 billion in 2009 which produced a pre tax profit of £69.9 million.

Pace has seen real growth over the past couple years.

This comes from the takeover of rival set-top-box maker Philips and the take up of high definition set top boxes because of the lower prices.

It is the lower average price of £57 per unit that has made 2009 a very good year; the 2008 average unit price was £66.

The Yorkshire based company is now firmly second to Motorola in the global set-top-box market.