Marks Electrical hails record full year sales
Marks Electrical has seen its full year revenue rise by 21.5% to a record £97.8 million following strong trading in its fourth quarter.
In trading update ahead of the issue of its full year results for the year to 31 March, the retailer said revenue in its fourth quarter climbed by 20% to £24.8 million.
Mark Smithson, Marks Electrical chief executive, said: “We are delighted to finish the year with revenue growth of 21.5% to a record £97.8 million, especially against the prevailing economic back-drop. This further demonstrates the strength of our business model and the attractiveness and advantage of our market-leading customer offering, as more people continue to discover our brand up and down the country.”
The company said the strong performance was driven across all product categories but particularly in A-rated energy efficient washing machines and tumble dryers. Small domestic appliances, such as air fryers, coffee machines and vacuum cleaners, were also popular with customers.
Looking ahead, Smithson said: “As we look to FY24, following a strong exit in March and a positive start to April, we are wholly focused on maintaining our performance management discipline on revenue, profit and cash in order to continue to demonstrate our differentiated proposition.”
