In the UK, Avenir managing director Tanny Price said profits had not been “spectacular”, with the distributor’s move away from consumer connections accounting for a reduction in revenue.
Said Price: “Our turnover is down quite a lot because of our withdrawal from consumer connections more than a year ago. But although there has been a reduction in volume, the connections are of better quality.
“That is something we will look at next year. Now we have pared down our business to good quality connections, we’ll use that model to build quantity back up as well.
“We’re on budget for April 2007/2008 and we’re pleased because it has been a tough year.”
Group sales increased by three per cent to €338.4 million (£243.77 million). Operating profit rose to €11.5 million to September 30, 2007, compared with €8.5 million to September 30, 2006.
The group will continue to roll out the three-year targets it set at the end of the 2006/2007 financial year; to grow its ‘Internity’ store portfolio to 1,000 across Europe in 2010, an average annual growth of 30 per cent and an improvement in operating margin to four per cent.
Avenir Telecom chairman Jean-Daniel Beurnier said: “Our first half results confirm the growth and profitability of our retail and wholesale distribution networks.”