Rent-to-buy furniture and electricals retailer BrightHouse has revealed a 15.6 per cent hike in its operating profit to £9.6 million, for the six months to September 30, 2008.

Like-for-like sales rocketed 13.6 per cent, and total turnover jumped 16 per cent to£81.8 million.

Bad debts as a percentage of revenue were reduced to 6 per cent in the period, from 6.2 per cent at the same point last year.

BrightHouse increased its store portfolio by 12.7 per cent in the period, opening 20 new stores. The retailer, which trades from 178 stores in total, said it has a “solid balance sheet” to fund its growth plans.

BrightHouse chief executive Leo McKee said: “Core to this strong set of results is the Group’s resilience to fluctuations in consumer spending cycles.

"This has been illustrated by our ability to continue to sustain profitable growth in this challenging macro-economic environment. Despite the ‘credit crunch’ environment the Board looks to the future with confidence.”

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