BrightHouse bucks retail trend as revenues rise

Brighthouse, the “rent-to-own” retailer, has defied the gloom surrounding the electrical goods sector, saying it will push the button on new stores after robust trading figures.

A number of major high street names have reported a downturn in sales of “big-ticket” items such as large-screen TVs and kitchens as the spending squeeze tightens, but BrightHouse said its half-year results reflected “continuing strong demand for our products and services”.

The company, which specialises in the sale of home electronic and domestic appliances, furniture and related goods via weekly payments, has opened 15 stores in the last six months and said it was on track to launch a total of 25 in the 2011/12 financial year.

Revenues in the six months to 30 September were up by 16.3 per cent to £127.2 million, with underlying like-for-like growth of 6.7 per cent.