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March 4, 2009

Pace beats credit crunch


by David Allen

The UK digital TV set top box maker has said that the growth in the pay TV market, especially in demand for HD TV products, has allowed the company to pay out a dividend to share holders for the first time in six years.

The group’s revenues reached £745.5 million for the year to Dec 2008.

This includes the purchase of Royal Phillips Electronics’ digital TV set top business interests for around £65 million. This business has now been renamed Pace France.

Pace sold some thirteen million digital TV set top boxes in the UK, while it sold a further six million through Pace France.

The company has been encouraged by reports from pay TV providers who are fairly optimistic about the current economic situation.

Story link: Pace beats credit crunch


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