Marks Electrical bucks ‘challenging market’ trend to grow revenues

Mark

Pureplay retailer Marks Electrical has reported “strong trading” in the first four months of the year, bucking the weakening trend in the electricals market.

In a trading update for the four months to July 31, 2022, ahead of its AGM today, the pureplay electrical retailer reported revenue growth of 13.7% to £27.7m despite trading against a “particularly challenging market backdrop”.

Marks Electrical also grew market share in both the major domestic appliances and consumer electricals markets, driven by strong performances in categories such as televisions, vacuum cleaners, washers and dryers, and air conditioning.

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