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19 July 2010

BrightHouse increases sales and customers



Rent-to-own retailer BrightHouse saw sales jump 16 per cent to £197.3 million in the 12 months ending March 31.

Operating profit for the year grew from £23.9m to £24.8m while the store group’s customer base increased 20 per cent from 146,000 to £175,000.

“Shoppers are cautious in the current economic climate but BrightHouse has again delivered improved revenue, profit and customer numbers,” said chief executive Leo McKee.

He pointed out that the company had grown from 141 stores in 2006, to 204 today. In fact, 21 stores were opened in the financial year ending March 31 and there are plans to open a further 30 stores during the current year, taking the total to 228.

“We will continue to expand by serving our core market – low income families,” Mr McKee said.

“The alternative credit market in the UK comprises some 5.2 million households, giving us the potential to expand the chain over time to as many as 650 stores.”