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Online electrical retailer Marks Electrical has reported a 7.5% reduction in full-year underlying revenue to £108.4m for the 12 months to 31 March 2026.
The drop from £117.2m the previous year came as the company strategically reduced its marketplace presence to focus on organic sales via its main website. Adjusted EBITDA fell to £2.5m, down from £4.2m in 2025, while net cash halved to £4.4m.
The group also revealed a post-period settlement with the Competition and Markets Authority (CMA) regarding an investigation. Marks Electrical will pay a reduced £700,000 financial penalty and approximately £600,000 in consumer redress from its existing cash resources.
Management stated that current trading remains in line with market expectations, with major domestic appliance activity in May tracking ahead year-on-year. Demand for television and sound systems has also experienced an increase ahead of the FIFA World Cup.
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 after a challenging first half, we were able to deliver an improved second half performance thanks to our disciplined focus on margin and operational cost management.
“We are well positioned heading into FY27 with positive trading momentum and a strengthened cash position. We are targeting sustainable growth in both revenue and profitability in FY27 as our focus on margin and operational efficiency yields positive results.”
Smithson added: “We do however remain mindful of the well-documented macro-economic factors within the UK around inflation, interest rates and current unemployment levels, all of which create trading headwinds that we have to navigate to the best of our ability.
“I have personally led the business for nearly 40 years now and so this is nothing new for me and we have successfully navigated several economic cycles. With the current experienced leadership team that we have in place in the business and on the Board, I am confident that we will continue to drive the business forward, delivering long-term growth and value creation.”
He concluded: “I am extremely proud of the dedication and commitment shown by our colleagues over the past year. Significant progress has been made behind the scenes to strengthen our foundations. We are building a business for the future, and our focus on delivering best-in-class customer service continues to underpin that ambition.
“I am pleased to welcome Darren, Chris and Helen to the board, who will all individually and collectively provide great support and experience as we work to continually deliver on our strategic ambition in the short term.”
