ThinkSmart shares higher on UK retail deal

Point-of-sale financing solutions group ThinkSmart has entered into a trading agreement with a division of Europe's largest home improvement retail group, Kingfisher, for an innovative gas boiler product.

Perth-based ThinkSmart has partnered with Kingfisher Future Homes to develop a gas boiler leasing product for consumers and business customers in the United Kingdom.

The new product, to be marketed as install+protect, combines an energy efficient gas boiler, a 10 year parts and labour warranty and a gas safety certificate within one package. 

ThinkSmart says the product will provide a cost-effective way of replacing or upgrading gas boilers and help landlords improve the energy efficiency rating of their rental properties ahead of the introduction of planned energy saving legislation in 2018.

"This is a significant new partnership that we expect to contribute meaningfully to the strong growth trajectory of the UK business," ThinkSmart executive chairman Ned Montarello said.

A trial of install+protect product will commence this week before a national roll-out next year.

ThinkSmart shares were 4.35 per cent higher at 36 cents at the close of trade.