Marks Electrical shrugs off gloom with strong half year results
Marks Electrical has posted strong half year trading figures with revenue growth of 15.1% to £43.1 million.
This is substantially up on the 13.7% uplift seen in the first four months of the retailer’s financial year despite a challenging market back-drop.
Mark Smithson, chief executive of Marks Electrical, said: “After a solid performance in the first four months, the group’s positive trading momentum has continued in August and September as we continued to harness our market-leading customer service proposition and build brand awareness, enabling the group to deliver continued revenue growth and market share gains.”
The retailer said the performance was driven across all categories, although sales of televisions, cookers, vacuums and small appliances were particularly buoyant.
Smithson added: “The strong competitive activity we saw in pricing during the first quarter has begun to ease more recently and despite the margin pressure this has had in the first half, we remain focused on controlling our overhead base and confident of achieving our full year targets.”
