Rent-to-own retailer Brighthouse has posted rising revenues this morning following a year of expansion for the company.
In interim results accounting for the six months until September 30th, total revenues increased 15.6 per cent to £109.4 million, like-for-like revenue grew 10.7 per cent and EBITDA was up 16.4 per cent to £17 million.
With sales of big ticket items struggling at present and bank’s limiting credit to customers, Brighthouse seems to be profiting by offering alternative payment scheme.
Leo McKee, Brighthouse CEO, commented: “In this challenging retail environment, it is pleasing that Brighthouse again has delivered improved revenue, profit and customer numbers.
“Our market, serving low income families, continues to be significantly underserved. Accordingly, demand for our products and services remains strong.”
The retailer’s store portfolio now totals 213 after 15 new stores were opened during the last six months.
Brighthouse says that customer satisfaction is at 97 per cent, according to independent research, and currently 38 per cent of new customers are referrals from existing ones.
McKee added: “Our store opening programme continues at pace. The new stores are being well received in their local communities, and are performing on plan.
“In the meantime, we are fully engaged in optimising customer service throughout our peak trading period. Overall, trading year to date is in line with management expectations.”