July 28, 2014 / 6:41 AM / in 3 years

Set-top box maker Pace raises full-year profit guidance

July 28 (Reuters) - British set-top box maker Pace Plc said it expected full-year profit and cash flow to exceed previous guidance, driven by new product launches and contract wins.

The company, whose customers include Sky Deutschland AG and AT&T Inc, said its operating margin for 2014 was expected to be no less than 8.5 percent, a rise from 7.8 percent in 2013.

Cash flow was projected at more than $200 million, an increase from the previous estimate of more than $185 million.

The company reiterated its full-year revenue guidance of about $2.7 billion, compared with $2.47 in 2013.

The Yorkshire-based company’s revenue fell 13.6 percent in the first half ended June 30, while gross profit rose 5.4 percent to $245.8 million.

Pace announced an interim dividend of 2.25 cents per share, up from 1.83 cents a year earlier. (Reporting by Noor Zainab Hussain; Editing by Ted Kerr)

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