Phoenix, based near Munich, reported an operational profit of €3m ($4.5m) in the third quarter, which follows on a profit of €100,000 in the second quarter. Last year during the three-month period to 30 September the company notched up a profit of €17.6m.
But Phoenix has lost €4.4m in the year to date, and will need a strong seasonal push in late 2009 in order to end the year in the positive.
