Intersport PSC Holding reports a 4.6 percent increase in consolidated sales to 172.8 million Swiss francs (€121.3m-$148.3m) for the first half of its financial year, ended March 31, with the affiliated stores posting a stable turnover on a comparable basis. Operating costs fell slightly, but the Swiss buying group suffered a drop of more than 80 percent in operating earnings and net profit due to the deteriorated solvability of a client. The operating margin dropped to 0.3 percent and the company reported a net profit of only 439,000 CHF (€308,200-$376,700) for the period, but cash generation increased and the debt-equity ratio remained high at 64.4 percent. Feeling that Swiss consumers will not reduce their spending on sporting goods in any significant way, Intersport PSC predicts stable or slightly improved earnings for the full financial year.