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BrightHouse strong first half results

UK’s leading rent-to-own retailer enjoyed a strong first half, with like-for-like sales growth of almost 10 per cent, and enters the crucial Christmas period with confidence.

GENERAL MERCHANDISE

BrightHouse strong first half results

UK’s leading rent-to-own retailer enjoyed a strong first half, with like-for-like sales growth of almost 10 per cent, and enters the crucial Christmas period with confidence.

The group’s interim results for the six months to September 30 showed revenue up 15.6 per cent to £94.6 million, which compares with £81.8 million in 2008. This was helped by its growing customer base that increased by almost 15 per cent to 156,000.

Leo McKee, BrightHouse, chief executive, says: “BrightHouse has delivered improved revenue, profit and customer numbers in what remains a difficult economic environment. We have been working closely with our key suppliers to sustain high quality product ranges.”

The company also continues to add stores, with 11 new units opened during the six month period, taking the portfolio to 188 stores. There are plans to open a total of 20 stores during the 2009/10 financial year.

McKee adds: “Our store opening programme remains on track. We have the foundations in place for Christmas and we look forward to successful trading during this key period. Current performance is in line with management expectations and the company is well placed for further growth.”

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