Satellite navigation systems maker TomTom said on Tuesday it had booked a 31% drop in sales in the final quarter of 2011, booking net profit of €12m, compared with €52m in the year-earlier period. In particular, consumer sales of its satnav systems were down 40% in the fourth quarter and 28% over the full year, in what chief executive Harold Goddijn said were ‘tough market conditions’. Read More
