Trading update & Board Changes

Marks Electrical Group plc

Trading Update

and

Chief Financial Officer Appointment

Marks Electrical Group plc ("Marks Electrical", the "Company" or the "Group"), the online electrical retailer, is pleased to provide an update on trading ahead of its unaudited interim results for the six months ended 30 September 2026, which are expected to be published in November. 

The Group expects full-year revenue for the year ending 31 March 2027 ("FY27") to be broadly in line with market expectations.  Pleasingly, the continued focus on operational efficiencies and fixed cost optimisation, together with product gross margin improvements has resulted in stronger than expected profitability during the first six months of the year.  As a result, the Board now expects full-year Adjusted EBITDA to be ahead of market expectations, at no less than £3.75 million for FY27.

Chief Financial Officer appointment 

Following the announcement on 3 July 2026, the Company is pleased to announce the appointment of Philip Luke De Villanueva as Chief Financial Officer and a director of the Company with effect from 1 December 2026. 

Philip is an ACCA-qualified finance professional with more than 15 years of experience. He currently leads the finance function for Gamma Communications plc's Enterprise Markets business unit. Prior to joining Gamma Communications, Philip spent almost ten years with Balfour Beatty plc in a range of divisional and group finance roles, progressing to a senior finance position with responsibility for the Construction/Defence South region.  Tom Pallatt will be stepping down from the Board later today.  Helen Flear, Audit Chair, will be providing oversight of the finance function until Philip joins the Board. 

Mark Smithson, Chief Executive Officer, commented: 

"I am extremely pleased to be able to positively update the market on our performance and elevated profit expectations for FY27 ahead of our peak trading period, despite the significant cost inflationary headwinds that we continue to face, particularly within our fuel cost base. We continue to improve in all areas of the business that ultimately drive performance and I feel confident that with the people and resources we have put in place we are well placed to continue through our peak trading period. 
 
In addition, we are also very pleased to welcome Philip to Marks Electrical. His listed-company finance experience, commercial focus and track record across financial planning, governance, transactions and finance transformation will be valuable as we continue to develop the business. I would also like to thank Tom for his contribution to Marks Electrical and wish him well for the future." 

Additional disclosures 

As required under Schedule Two, paragraph (g) of the AIM Rules for Companies, the Company confirms that Philip Luke De Villanueva (aged 42) does not currently hold, and has not held, any directorships or partnerships during the past five years. 

There is no further information to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies. 

Enquiries:

Marks Electrical Group plc                                             Via DGA Group:

Mark Smithson (CEO)                                                                  Tel: +44 (0)20 7664 5095

DGA Group (Financial PR)

Jonathon Brill                                                                                Tel: +44 (0)20 7664 5095

[email protected]                                                                                                                                                                                                 

Canaccord Genuity (NOMAD and Broker)

Max Hartley / George Grainger                                                    Tel: +44 (0)20 7523 8000                                                    

About Marks Electrical

Marks Electrical is a technology driven e-commerce electricals retailer which sells, delivers, installs and recycles a wide range of household electrical products. The Group was founded in Leicester in 1987 by Mark Smithson and has scaled into a nationwide online retailer with a compelling growth track record, thanks to its vertically integrated, low-cost, high-quality operating model, supported by the ongoing structural shift of consumers to purchase online. The Group operates within the UK Major Domestic Appliances (MDA) and Consumer Electronics (CE) market, estimated to be worth approximately £7 billion.

Primarily through its simple, clear and intuitive website - markselectrical.co.uk - the Group offers over 4,500 products from over 50 leading brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships. Marks Electrical delivers direct to customers in its owned and branded vehicles, operated by the Group's skilled team of delivery drivers, who are also able to offer installation and recycling services.

For further information, visit the Marks Electrical corporate website: https://group.markselectrical.co.uk and its retail website: https://markselectrical.co.uk/.

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.