LONDON , January 11 /PRNewswire/ --
- Revenue Growth Stimulated by Demand for Consumer Electricals
BrightHouse: http://www.brighthousegroup.co.uk, the UK's leading rent-to-own retailer, today announces a trading update for the 13 weeks to 24 December 2009 .
Trading performance in the period has shown continued revenue growth from both new and existing stores.
Highlights - Revenue up 21% to GBP50.5m (2008: GBP41.7m). - 9% like-for-like revenue growth. - Two new stores opened in the period, taking the figure to 13 stores in the financial year to date. BrightHouse store portfolio currently stands at 190. - Company on track to open a total of 20 stores during the financial year ending 31 March 2010. - Sales have been robust across most product lines, particularly Furniture and Domestic Appliances. - Most in-demand items for Christmas were laptops, gaming consoles and flat screen TVs.
Leo McKee , BrightHouse CEO, said:
"Both customer footfall and trading in the run up to Christmas has been strong and we have delivered improved revenue and customer numbers. Consumer electricals have been popular and we have also seen significant demand for furniture and domestic appliances."
"We're delighted by the 21% improvement on the same period last year, particularly as Christmas 2008 was a solid performance. While our new stores are making a healthy contribution, we are particularly pleased with our 9% like for like revenue growth. Current overall performance is in line with management expectations. Looking forward to 2010, the company is well placed for further growth, and our new store opening programme remains on track."
Note to editors
BrightHouse is a national retail chain specialising in the sale of home electronic, domestic appliances, household furniture and related products, on a 'rent-to-own' affordable weekly payment basis. BrightHouse provides customers access to a choice of products, operating without the normal requirement of large deposits and credit ratings. With 2200 staff UK-wide, BrightHouse is a major employer in the local communities where its stores are located.
BrightHouse supports NSPCC, the UK's leading children's charity that specialises in child protection and the prevention of cruelty to children.
Caversham Finance Limited trading as BrightHouse. Registered in England 785922.
For further information please contact: Brunswick PR: +44(0)20-7404-5959, [email protected] Kevin Byram, Craig Breheny, Michelangelo Bendandi