Pace plc announced interim management statement for the 16 week period from January 1, 2013 to April 23, 2013. The transformation of its supply chain continues to progress well with the implementation of a single Product Lifecycle Management system and related engineering processes across the whole business. This will support the transition to two core Electronic Manufacturing Services (EMS) partners that will be completed later in the year. The win rate and pipeline of new business remains strong across all areas of its software and services offerings and the company has made good progress in the delivery of the landmark customer projects won in 2012. Its Latens business has deployed an integrated product combining Conditional Access (CA) and Digital Rights Management (DRM) for both Broadcast and Over-the-Top (OTT) services. The company expects revenue for the first half year of 2013 will be ahead of the first half year of 2012, driven largely by continuing demand for Media Server products in North America and the comparative half being impacted by Hard Disk Drive supply disruption. Profitability is in line with its expectations and the robust cash flow generation has continued. The group has made a good start to the year and management remains confident of achieving the outlook stated on March 5, 2013. Revenues for 2013 expected to be broadly in line with 2012.   Operating Margin for 2013 is expected to be c.7.5%.

Pace plc commenced deliveries of its Media Gateway and client device platform to support new converged home services for GET subscribers. The Pace Media Gateway and companion HD client device delivers media content and data to a variety of devices, giving subscribers the freedom to utilise GET's services when and where they want around the home. The Media Gateway supports real-time HD transcoding which converts broadcast and over-the-top (OTT) content into a wide range of resolutions, formats and bit rates that enable seamless content distribution to different screens anywhere in the home, across TVs, tablets, laptops and handheld consumer electronic devices. Using the Pace converged-home platform, GET will offer their subscribers a wider range of linear, OTT and on-demand content, applications and data services than ever before. The Pace converged home Media Gateway's advanced video processing capabilities and DOCSIS 3.0 modem support ultra-fast downloading and streaming of media content, expanding the range of content that GET can offer subscribers while maintaining a high quality viewing experience. The platform offers dual-band WiFi and Ethernet connectivity to allow maximum flexibility for how content is delivered into and around the home.

Pace plc reported consolidated earnings results for the year ended December 31, 2012. For the year, the company reported revenue of $2,403.4 million against $2,309.3 million a year ago. Operating profit was $93.8 million against $73.0 million a year ago. Profit before tax was $80.1 million against $54.7 million a year ago. Profit attributable to equity holders of the company was $58.4 million or 18.5 cents per diluted share against $38.8 million or 12.5 cents per diluted share a year ago. Net cash generated from operating activities was $262.2 million against $106.5 million a year ago. Purchase of property, plant and equipment was $22.6 million against $41.5 million a year ago. Adjusted EBITA was $158.1 million against $141.4 million a year ago. Adjusted diluted EPS was 33.4 cents against 28.1 cents a year ago. Adjusted profit after tax was $105.3 million against $87.3 million a year ago. Free cash flow was $182.7 million $8.2 million a year ago. Net debt as of December 31, 2012 was $163.3 million against $321.7 million a year ago. The Board has recommended a final dividend of 3.06 cents per share versus 2.50 cents per share of 2011, an increase of 22.4% in line with the progressive dividend policy introduced in 2009. The full year proposed dividend increases 20.0% to 4.50 cents per share versus 3.75 cents per share of 2011. Dividends will be paid in sterling, equivalent to 2.029 pence per share. The proposed dividend will be payable on July 5, 2013 to shareholders on the register on June 7, 2013. The company provided earnings guidance for the year 2013. Revenues are expected to be broadly in line with 2012. Operating Margin is expected to be 7.5%. Strong cash flow will continue, and expects to be in a positive cash position at the end of 2013.