January 11, 2010 / 12:10 AM / 10 years ago

Brighthouse Christmas sales up 21%

LONDON (Reuters) - Rent-to-own retailer Brighthouse posted strong sales for the run-up to Christmas and said on Monday it was well positioned for further growth.

The 190-store firm, which sells electrical appliances, household furniture and related products to customers who make weekly payments, said sales increased 21 percent to 50.5 million pounds ($80.6 million) in the 13 weeks to December 24.

Sales at stores open over a year rose 9 percent.

The group, owned by investment firm Vision Capital, said it was on track to open a total of 20 stores in the year to end-March.

“Current overall performance is in line with management expectations. Looking forward to 2010, the company is well placed for further growth,” said Chief Executive Leo McKee.

Reporting by James Davey; Editing by Greg Mahlich

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