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Marks Electrical hails record third quarter sales

Marks Electrical has said it achieved a record breaking third quarter with sales up 27.4% to £22.3 million. The company benefited from a particularly strong performance… View Article

RETAIL TECHNOLOGY NEWS

Marks Electrical hails record third quarter sales

Marks Electrical has said it achieved a record breaking third quarter with sales up 27.4% to £22.3 million.

The company benefited from a particularly strong performance during the peak Black Friday and Christmas trading periods as it maintained inventory levels and coped with a surge in demand by working closely with all its suppliers.  

The third quarter figures meant that Marks’ sales in the current financial year have grown by 55% to £59.8 million as it remains on track to reach its full year revenue target.  

Mark Smithson, chief executive of Marks Electrical, said: “I am delighted by our performance in the third quarter of this year, with year on year growth of 27.4%, and continued trading momentum against particularly strong comparatives. This high growth rate allowed us to continue to gain market share.”

In order to improve brand awareness, Marks continued to invest in TV campaigns and digital marketing in the period which resulted in increased website traffic. 

Marks said the sales momentum has continued into January

Smithson added: Our team has delivered a record quarter, handling increased throughput in our warehouse and via our expertly trained team of delivery drivers. We look forward to maintaining our performance management discipline on revenue, profit and cash in the final months of the year.”

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