French intimate apparel and garment retailer Etam Developpement on Monday said it swung to a consolidated net profit during the first half.

The operator of nearly 1,300 stores said it made $2.6 million in the first 26 weeks of the current fiscal year compared to a $30m loss in the year-ago period.

Etam, whose banners include Tammy and 123, also revealed cut its debt by $66m to $132m in the first half.