Marks Electrical reports record revenue
Marks Electrical has reported that its full year revenue has climbed to a record £117.2 million from £114.3 million a year earlier.
In a pre-close trading update for the 12 months to 31 March, the online premium electrical retailer said its adjusted EBITDA had come in at approximately £4.2 million.·
During the period, major domestic appliances and consumer electronics delivered 5% and 50% volume growth respectively.
Meanwhile, gross margin was maintained in the second half of the year.
Never Miss a Retail Update!The company said its strategy to pivot back to its “historically successful” premium focus is on track as it looks to boost margin performance.
Mark Smithson, chief executive of Marks Electrical, said: “FY25 was a period of significant strategic change and progress and whilst the margin and growth rates were not at the higher levels seen in recent years, nor where I would like the business to be, I continue to be proud of the performance the team has delivered, whilst tackling the significant operational distractions brought about by the changes we decided to make.
“These changes will position the business for long-term success and ensure that Marks Electrical is well placed to benefit when broader market sentiment picks up, giving us even greater vertical integration, improved visibility and enhanced automation, further enabling us to deliver growth, returns and value for all our stakeholders.”
