PowerHouse is cautious ahead of tough future

Britain's biggest private electricals chain, PowerHouse, has echoed Dixons' cautious statement last week.

PowerHouse managed like-for-like sales growth of 1.3 per cent for the 10 weeks to January 4 under 'challenging' conditions.

Chairman and chief executive Derrick Broomfield said post-Christmas sales had been buoyant, but cautioned: 'Immediate prospects for the future look tough, with the slowdown in consumer confidence, stock market turbulence and a threat of war with Iraq.'

However, he said PowerHouse is aiming to consolidate its market position and is working on strategies for the new trading year.

He added that all growth opportunities will be monitored.