Online retailer Marks Electrical delivers double-digit revenue growth despite economic volatilities
Marks Electrical has delivered a double-digit revenue growth despite current market volatilities.
In the six months ended 30 September, the online electrical retailer posted a revenue growth of £43.1m – 15.1 per cent up on last year’s levels.
The company grew its position in both the Major Domestic Appliance as well as in the Consumer Electronics markets, increasing its share to 2.1 and 0.3 per cent respectively.
The retailer also expanded its footprint into Scotland, Cornwall and Wales.
“As more people across the UK come into contact with the Marks Electrical proposition and become customers, we are able to harness our highly efficient, single-site operational model to drive profitable market share growth,” said chief executive Mark Smithson.
Even though profits went down 10 per cent on last year’s levels, Marks Electrical delivered a 6.3 per cent margin, which will keep the company on track to deliver its full-year objectives.
“Our focus on operational excellence and cash flow generation, combined with our net cash position, provides us with a robust platform to generate continued profitable market share growth and deliver on our full year targets,” Smithson added.