Pre Close Trading Update & Board Change

Marks Electrical Group plc

26 March 2026

 

Marks Electrical Group plc

Pre Close Trading Update

& Board Change

Marks Electrical Group plc ("Marks Electrical" or "the Company" or "the Group"), the online electrical retailer, today announces an unscheduled trading update in respect of the full year to 31 March 2026 ("the year" or "FY26").  In addition, the Company is also pleased to announce the appointment of Tom Pallatt as Chief Financial Officer of the Group with effect from 1 April 2026.

·      H2-FY26 Revenue has been robust, +4.7% on H1-FY26, following a good peak trading period and a resilient Q4-FY26. We expect FY26 Sales to be approximately £108.5m as a direct result of the business placing elevated focus on margin enhancing organic routes to market (FY25: £117.2m)

·      With the increased focus on margin, further supported by a single co-ordinated programme of cost rationalisation and operational efficiencies across the business, FY26 adjusted EBITDA is now expected to be comfortably ahead of consensus and in excess of £2m

·      Cash is expected to close in and around £3.5m-£4.0m reflecting strong working capital management particularly within inventory

Finally, we are delighted that Tom will be joining the Board as permanent Chief Financial Officer on 1 April 2026.  Tom was at Ibstock Brick for 17 years, where he held senior finance roles including Group Financial Controller of Ibstock PLC, and is an ACA‑qualified chartered accountant. Since November 2025, Tom has served as Interim CFO of the Company, giving him direct exposure to the Group's operations, financial management and performance. He brings deep experience in financial governance, reporting and controls. Tom will be a member of the Audit and Risk Committee.

Mark Smithson, CEO of Marks Electrical commented:

"With the strong business that we have, with growing brand recognition, nationwide distribution and installation capability I am pleased that we are able to report adjusted EBITDA ahead of market expectations thanks to our disciplined focus on margin and operational cost management. We are finishing FY26 with good momentum and are well positioned heading into FY-27.

Despite the strong trading, we are cognisant of the ongoing CMA investigation. Marks Electrical remains committed to full compliance with all applicable consumer and competition laws, including the DMCCA. The Group has been proactively engaging with the CMA and continues to cooperate fully with the investigation.  A further announcement will be made as appropriate."

Additional disclosures

As required under Schedule 2(g) of the AIM Rules for Companies, the Company confirms that Thomas William Pallatt (aged 48) has not been a director of any company within the past five years.

There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.

Enquiries:

Marks Electrical Group plc                                             Via DGA Group:

Mark Smithson (CEO)                                                                  Tel: [phone]

DGA Group (Financial PR)

Jonathon Brill / James Styles                                                       Tel: [phone]

[e-mail]                                                                                                                                                                                                 

Canaccord Genuity (NOMAD and Broker)

Max Hartley / George Grainger                                                     Tel: [phone]                                                    

About Marks Electrical

Marks Electrical is a technology driven e-commerce electricals retailer which sells, delivers, installs and recycles a wide range of household electrical products. The Group was founded in Leicester in 1987 by Mark Smithson and has scaled into a nationwide online retailer with a compelling growth track record, thanks to its vertically integrated, low-cost, high-quality operating model, supported by the ongoing structural shift of consumers to purchase online. The Group operates within the UK Major Domestic Appliances (MDA) and Consumer Electronics (CE) market, estimated to be worth approximately £7 billion.

Primarily through its simple, clear and intuitive website - markselectrical.co.uk - the Group offers over 4,500 products from over 50 leading brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships. Marks Electrical delivers direct to customers in its owned and branded vehicles, operated by the Group's skilled team of delivery drivers, who are also able to offer installation and recycling services.

For further information, visit the Marks Electrical corporate website: https://group.markselectrical.co.uk and its retail website: https://markselectrical.co.uk/.

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

END