Marks Electrical delivers record quarterly performance
Marks Electrical has posted strong third quarter revenue growth with sales rising by 33.4% to £29.8 million in the three months to 31 December.
The uplift means that the company has seen its revenue climb by 22% to £72.9 million in the year to date.
Marks said all product categories performed well, although A-rated energy efficient laundry appliances, televisions, refrigeration and small domestic appliances were particularly popular.
The increase in sales meant that the retailer’s in-house fleet of delivery vehicles achieved record delivery volumes in the quarter. The period also saw the continued adoption of Marks’ in-house installation service which has now completed over 3,000 installations since its launch in August.
Mark Smithson, chief executive of Marks Electrical, said: “I am proud of the entire team at Marks Electrical for delivering a record quarterly performance, with year-on-year growth of 33.4% against a tough economic back-drop. This further demonstrates the resilience of our business model and the attractiveness of our market-leading customer offering, which more people are discovering up and down the country.”
During the three month period, Marks invested in a number of television, radio and out-of-home campaigns over the Black Friday and Christmas sales peaks. This led to increased website traffic and broad-based revenue growth across the UK, which was particularly strong strong in London, South East England and the East Midlands.
Looking ahead, Smithson added: “After an improvement in profitability in the third quarter, we look forward to maintaining our performance management discipline on revenue, profit and cash in order to achieve our full year targets and continue to demonstrate our differentiated proposition.”
