Amsterdam  - Dutch navigation device maker TomTom on Wednesday reported a third-quarter profit of 31 million euros, 10 million euros more than in the previous quarter but markedly less than in the corresponding period in 2008.

The Amsterdam-based company produces portable navigation aids for vehicles and mapping software for handheld computers. TomTom generated 58 million euros in profit in the third quarter last year, a period corresponding with summertime demand for navigation equipment.

The latest results put TomTom firmly back on the road to profitability after the company recorded a loss of 39 million euros in the first quarter.

Sales in the third quarter stood at 365 million, 3 million euros less than the previous quarter and around 15 per cent less than the same period last year.

TomTom sold 2,58 million navigation devices, slightly more than a year ago, and at cheaper rates. The average price of a unit was 99 euros in the third quarter, rather than the 109 euros which analysts had predicted.

The company plans to continue its cost-cutting measures this year, with the target of saving 90 million euros. Its original savings target for 2009 was 60 million euros. (dpa)