Pace Micro Technology Plc, which less than a year ago was cutting back its workforce by 15% after huge losses, is now enjoying a highly profitable upswing on the back of the booming UK set-top box market. A net loss of 12.5m pounds has been turned into a profit of 5.5m pounds in the six months to November 28 as revenues rose 14.4% to 99.4m pounds. The company’s international performance has been patchy with sales in the troubled Asia/Pacific and South American markets down. In addition, Pace has yet to make any impact in the US market – though initiatives are promised over the coming year. Pace’s salvation is the emergence of a buoyant home market with the launch of digital TV in the UK which lifted home sales from under 20m pounds to over 50m pounds.
