U.K.-based set-top-box (STB) vendor Pace Micro Technology announced that in the 27 weeks ending Dec. 7, 2004, it increased its profits to GBP3.1 million ($5.1 million). At the corresponding stage last year, its profits were under GBP1 million ($1.9 million). Revenues also increased during this period to more than GBP150 million ($281.4 million), a 36 percent increased compared to the same stage last year. The STB vendor supplies many satellite pay-TV platforms across the world and, in Europe, Pace has relationships with platforms such as BSkyB, Sky Italia and Premiere.

Critically, the company now has a wider geographic spread of customers. Pace Micro Technology’s Chairman Michael Bett said, “A wider geographical spread has been achieved with non-U.K. customers representing 61 percent of our total revenues, complementing our existing strong U.K. market position.”