KUALA LUMPUR: TSM Global Bhd, a manufacturer of wiring harnesses for vehicles, saw a 6% rise in net profit to RM6.54 million for its third quarter (3Q) ended Oct 31, 2009 from RM6.27 million in the same period a year ago.

In a statement to Bursa Malaysia, the company said it recorded only a slight 1.25% drop in revenue to RM65.11 million from RM65.93 million.

TSM said its sales have recovered to “about the same level as they were in 2008” before the global financial crisis struck.

Earnings per share rose to 12.17 sen from 11.79 sen a year earlier.

For the cumulative nine-month period, net profit fell 19.1% year-on-year to RM16.95 million while revenue dropped 11.1% to RM185.02 million.

The company said it had experienced a drop in sales during the nine-month period, which was worse than the drop in the overall automotive sales in the country because of its higher “value-per-vehicle set” product mix.

TSM said business prospects for the remainder of the year appeared to be positive in terms of volume but that there were still concerns over the widely fluctuating Japanese yen and US dollar exchange rates.