Pace has announced a huge rise in profits and turnover and become the world’s second biggest supplier of set-top boxes to the Pay TV industry.

According to figures compiled by Screen Digest the Yorkshire-based manufacturer moves up from number three in the volume sales table but still trails industry leader Motorola.

Chief executive officer Neil Gaydon said: “We’ve experienced record growth in 2009, and we’re delighted to be recognised as the world’s number two set-top box company. What’s more important to us, however, is to be the best.

“No other manufacturer has the same breadth of product, engineering expertise and customer base as Pace. We intend to build upon our leadership position in 2010 and beyond by developing ever more innovative products, deepening our existing customer relationships and pursuing opportunities in current and new territories.”

Industry analyst, Tom Morrod, who runs Screen Digest’s TV Technology department, said growth in the set-top box market for pay TV has been driven by higher volume in emerging markets and a tendency toward more complex products such as HD and PVR devices.

Pace had also announced its preliminary results for the year ended 31 December 2009.

In that period revenues went up 52% to £1,133.4m while profit before tax increased by 405% to £69.9m.