Pace Provides Preliminary 2013 Results
SALTAIRE, UK -- Pace plc, a leading global developer of technologies and products for PayTV and broadband service providers, today announces the following unaudited update for the financial year ended 31 December 2013 ahead of preliminary results to be announced on 4 March 2014.
The Group performed well in 2013; and full year results will be ahead of the Board’s previous guidance:
The Group has made good progress throughout the year in the execution of our Strategic Plan:
In addition, the acquisition of Aurora Networks, which closed on 6 January 2014, is an important step in the evolution of the Company and enhances Pace’s strategy to widen out and build a broader platform from which to drive revenue.
Commenting on today's announcement, Mike Pulli, CEO, said: "Pace has performed above expectations in 2013. We continue to lead the market in innovation with great products and services, demand from our customers has remained strong and we continue to win new business. The Company has made further good progress in the execution of our Strategic Plan and Pace continues to become a more profitable and cash generative company. I am excited about the acquisition of Aurora Networks, which will enable Pace to widen out into network infrastructure and build deeper, more embedded relationships with our customers. This will strengthen Pace’s position as a market leading solutions provider for the PayTV and broadband industries. We are confident about our trajectory and are focused on making further progress in 2014."