18th Nov 2021 14:36
Marks Electrical Group PLC - Leicester-based electrical products retailer - Sees revenue rise due to nationwide TV campaign. Revenue rises 78% in the six months ended September 30 to GBP37.5 million from GBP21.1 million a year before. Attributes this to its "operating capacity development" and investments in marketing and brand awareness. Pretax profit decreases 24% to GBP2.1 million from GBP2.6 million, as administrative expenses grows to GBP4.5 million from GBP2.1 million. Resumes its dividend and paid a total of GBP3.9 million during the period.
States that the "strong" results for the first half will provide good foundation to deliver its objectives in the second half of financial 2022. "In order to improve brand awareness, we invested, for the first time ever, in a nationwide TV campaign which led to a strong increase in website traffic and a good return on sales, whilst further promoting the Marks Electrical brand; this activity played a key role in delivering our 78% year-on-year sales growth," says Chief Executive Mark Smithson.
Current stock price: 117.75 pence, up 3.3% on Thursday
Year-to-date change: up 6.6% since its early November IPO
By Abby Amoakuh; [email protected]
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