Car satellite navigation systems maker TomTom booked a 42% increase in net profit and 16% growth in sales in the first three months of this year, compared with the year earlier period.
Earnings reached €44m, while turnover totalled €296m. However, the average price of a satnav system has fallen from €230 to €204, TomTom said.
Sales are traditionally down in the first few months of the year – the most popular time to buy satnav systems is before the summer break and during the Christmas holidays.
The company repeated full-year forecast of turnover reaching between €1.6bn and €1.8bn.
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