Marks Electrical boosts profit expectations, names new CFO

26th Mar 2026 08:21

(Sharecast News) - Online electrical retailer Marks Electrical said on Thursday that second‑half trading had remained solid, with revenues up half-on-half after a strong peak period and resilient fourth quarter performance.

Marks Electrical now expects full‑year sales to come in at around £108.5m, reflecting a deliberate shift toward higher‑margin, organic channels, while adjusted underlying earnings were now expected to come in comfortably ahead of consensus and above £2m, thanks to the increased focus on margins, as well as a coordinated programme of cost reductions and operational efficiencies.

The AIM-listed firm also noted that year‑end cash was forecast to land between £3.5m and £4m, underpinned by tight working‑capital management, particularly within inventory.

Chief executive Mark Smithson said: "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 FY27."

Marks Electrical added that Tom Pallatt will join the board as permanent chief financial officer on 1 April. Pallatt spent 17 years at Ibstock Brick in senior finance roles and has served as Marks' interim CFO since November 2025.

As of 1000 GMT, Marks shares were up 4.09% at 48.40p.

Reporting by Iain Gilbert at Sharecast.com

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