Rent-to-own electricals and furniture retailer BrightHouse has defied the economic gloom, revealing a 21.5 per cent hike in EBITDA to £29.4m in its full-year results.
Like-for-likes jumped 13.9 per cent in the 12 months to March 31, while revenue rocketed 16.9 per cent to £170.6m.
The retailer pulled in 146,000 customers in the period – a 17 per cent increase on last year.
BrightHouse opened 21 shops in the period, taking its store count to 177.
It said there are “attractive and profitable growth opportunities” to continue expanding the retailer in the current financial year.
Chief executive Leo McKee said: “BrightHouse has delivered improved revenue, profit and customer numbers, despite the difficult economic environment facing the retail and financial services sectors in the UK. This performance reflects the fact that our customers, colleagues and suppliers clearly understand and appreciate our proposition.
“We are a responsible lender, serving families in some of the most socially deprived areas of Britain. There continues to be great demand for this proposition and the company’s growth prospects are solid. Current trading is in line with management expectations and the company is well placed for further growth.”
No comments yet