French apparel maker Alain Manoukian on Monday revealed it swung to a loss in the first half of this fiscal year but expects its fortunes to improve on that performance during the second half of the year.

The company posted a net loss of 2.6 million euros compared to a net profit of 3.2 million euros in the year-ago period. Revenue slipped 5.7 per cent to 74.6 million euros from 78.7 million euros in 2001.

It added third quarter revenue was flat at 45.1 million euros and it plans to open new stores both domestically and internationally as well as improve stock management in a bid to boost sales and profits.