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Pace Micro: Upbeat Trading statement but shares still cheap

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- Tom Winnifrith

FTSE-250 constituent Pace plc (PIC), a developer of technologies and products for PayTV and broadband, has today announced that, following a strong second half year performance, its “full year results are anticipated to be ahead of the board’s previous guidance”. The shares have responded by trading approaching 5% higher at a 202p share price, capitalising the company at £625 million. The following reviews the investment proposition here…is it a good share to tip?

The announcement noted that the company achieved record Q4 revenue, largely driven by demand for next-generation media server products in North America, with media server demand expected to continue a positive trend into the current year. The company is also widening from its hardware position into software and services – achieving a number of key wins and deployments across this area, including with BSkyB in the UK and Foxtel, the largest PayTV operator in Australia. It added it has “a strong (software and services) pipeline into next year”.

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