Marks Electrical raises profit expectations despite unchanged sales outlook

Marks Electrical ($MRK-LSE) now expects at least £3.75 million of adjusted EBITDA for the year ending March 2027, above market expectations, following stronger first-half profitability. Revenue is still expected to be broadly in line with expectations. Management attributed the improvement to operating efficiencies, tighter fixed costs and better product gross margins, rather than a disclosed increase in sales forecasts.

The retailer also appointed Philip Luke De Villanueva as chief financial officer from December 1. Tom Pallatt is leaving the board, with audit chair Helen Flear overseeing the finance function during the transition. The profit upgrade suggests internal improvements are helping absorb cost pressures, including fuel inflation, before the peak trading season. However, it remains a full-year forecast; detailed unaudited interim results are scheduled for November, and no new revenue figure was provided.

Sources:

• Company RNS reproduced by Investegate