Online electrical retailer Marks Electrical has provided a further update following the Company’s Pre-Close Trading Update issued on 26 March 2026, ahead of its unaudited final results for the year ended 31 March 2026 (“FY26”), which are expected to be published in June.
As previously announced, the Group expects to deliver full year revenue of £108.5m. Following a stronger than anticipated end to the year, unaudited adjusted EBITDA was £2.65m and net cash was £4.45m at year end, both ahead of the range previously indicated.
The company is entering the next financial year, for 2027, with positive trading momentum and a strengthened cash position. Building on the progress made during FY26, the Board expects sustainable growth in both revenue and profitability in FY27 as the benefits of its disciplined focus on margin and operational efficiency continue to be realised, the company said in a statement.
This is good news for the retailer, given its position noted towards the end of last year, 2025, when it reported a significant revenue dip for Q1-FY26, as it pivoted back to the premium segment of the market.
In a statement the company said at the time: “Disappointingly, this trend has continued into Q2-FY26 with both Major Domestic Appliances (“MDA”) and Consumer Electronics (“CE”) markets down year on year. We have also continued to see consumers remaining highly price conscious and scaling back on discretionary spending. This has impacted our average order values and in turn has resulted in higher relative delivery costs.
“Compounding the challenging market backdrop, we continue to face cost headwinds with increased technology and ongoing costs of our new ERP system along with higher employee related costs, impacting our distribution costs and overheads. We remain happy with the performance of the new ERP and the efficiencies it will drive as we return to growth.”
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