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The Markets
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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Online business & e-commerce

Marks Electrical boosts revenue despite 'challenging market back-drop'

The online retailer cautioned the “remainder of the year is difficult to predict” but it remains focused “on maintaining a market leading customer proposition and healthy cash flow”

Marks Electrical Group PLC (AIM:MRK) said revenues increased in the first four months of the year despite a "particularly challenging market back-drop".

Ahead of its annual general meeting, the online electrical retailer reported a 13.7% year-on-year rise in revenues to £27.7mln.

“We've started the year well despite a very tough market back-drop with the group's sales for the first four months up 13.7%,” said chief executive Mark Smithson.

The group said its domestic appliances and consumer electronics divisions grew market share - up 0.6% to 2.1% and 0.1% to 0.3% respectively.

Televisions, vacuum cleaners, washers & dryers and air conditioning units were particularly strong, with the group’s “robust balance sheet and strong cash position” supporting a final dividend of 0.67p per share.

However, Smithson cautioned the “remainder of the year is difficult to predict” but it remains focused “on maintaining a market leading customer proposition and healthy cash flow.”

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