Leicester online retailer posts record turnover figures

Leicester-based online retailer Marks Electrical has posted record turnover figures for its third quarter to the end of 2021.

Revenues for the period were up by over 27% to £22.3m and included strong Black Friday and Christmas trading.

Marks was floated on the London Stock Exchange last Autumn in a IPO which valued the firm at £115m.

Mark Smithson, chief executive officer, said: “I am delighted by our performance in the third quarter of this year, with year on year growth of 27.4%, and continued trading momentum against particularly strong comparatives. This high growth rate allowed us to continue to gain market share.

“Our momentum has continued into January and we look forward to maintaining our performance management discipline on revenue, profit and cash in the final months of the year.”