Share price slumps at online retailer

The share price at Leicester-based online retailer Marks Electrical has slumped this morning (Tuesday November 12) on the back of a gloomy full-year forecast.

At close of trading on Tuesday, shares were changing hands for 50p – down 8.9p, or 14.5%, on the day.

The news comes after Marks issued a half-year update earlier on Tuesday morning in which it said that revenue grew by 9.3% to £58.8m, but this was hampered by a “significant” reduction in average order values (-9%) with the firm’s volume growth outstripping the pace of its revenue growth.

Marks now expects to post full-year revenues of around £120m with EBITDA “in excess” of £4m. Last year’s EBITDA was £5m.

Marks was floated on AIM in late 2021. Since then, the firm’s share price has more than halved – down 54% over the period.