Marks Electrical has upgraded its full-year profit expectations, after delivering stronger-than-expected profitability in the first half of its financial year.
The electronics retailer said revenue for the year to 31 March 2027 is expected to be broadly in line with market expectations. However, adjusted EBITDA is now forecast to come in ahead of expectations, at no less than £3.75m.
The improved outlook follows a focus on operational efficiencies, fixed-cost optimisation and improvements to product gross margins.
Marks Electrical chief executive Mark Smithson said the business had continued to improve across the areas that drive performance, despite “significant cost inflationary headwinds”, particularly rising fuel costs.
The retailer is now heading into its peak trading period with Smithson saying it is “well placed” to navigate the period with the people and resources it has put in place.
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The update comes as Marks Electrical also announced a change at the top of its finance function.
Philip Luke De Villanueva will join as chief financial officer and become a director from 1 December. He currently leads the finance function for Gamma Communications’ Enterprise Markets division and previously spent almost a decade at Balfour Beatty, holding a range of divisional and group finance roles.
Current CFO Tom Pallatt will step down from the board, with audit chair Helen Flear overseeing the finance function until De Villanueva joins.
Smithson said De Villanueva’s listed-company experience, alongside his background in financial planning, governance, transactions and finance transformation, would support the retailer as it develops the business.
The profit upgrade marks a more positive outlook for Marks Electrical following a challenging FY26. Revenue fell 7.5 per cent to £104.8m in the year to March, while adjusted EBITDA declined to £2.5m from £4.2m.
The latest update suggests the retailer’s focus on margin and cost control is beginning to translate into improved profitability ahead of the crucial peak trading period.
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