Leicester online retailer posts record turnover

Leicester-based online retailer, Marks Electrical Group, has posted record revenues for the 12 month to the end of March.

The firm, which floated on the London Stock Exchange last November, turned over £80.5m during the period – up 44% on 2021’s figures.

Marks has also revealed continued positive trading momentum in the first months of its full-year 2023, with revenue growth exceeding 20% year-on-year.

Adjusted profit after tax remained flat at £5.25m.

Mark Smithson, chief executive officer, said: “We achieved record revenue in FY22, with growth of 44% against a strong comparative of 78% in the prior year. This is testament to the hard work and commitment of the entire team. I’m particularly proud to have achieved this while maintaining our disciplined focus on margin, capital allocation and cash generation.

“We remain well positioned moving forward to execute on our clear strategy of growing brand awareness, delivering exceptional customer service, and expanding our offering to new customers across the UK.”