Marks Electrical Group has raised its full-year profit guidance, saying it now expects adjusted EBITDA of no less than £3.75m for the year to 31 March 2027. The eCommerce appliance retailer said this is ahead of market expectations.
The company said the upgrade reflects “operational efficiencies and fixed cost optimisation, together with product gross margin improvements”, which delivered stronger-than-expected profitability in the first six months of the year. It said full-year revenue is expected to be broadly in line with market expectations, so the improvement comes from cost and margin rather than higher sales.
Chief executive Mark Smithson said the group continues “to improve in all areas of the business that ultimately drive performance”. He also acknowledged “significant cost inflationary headwinds”, particularly in its fuel cost base.
Separately, Marks Electrical said Philip Luke De Villanueva will join as chief financial officer and director on 1 December 2026. He is currently at Gamma Communications and previously worked at Balfour Beatty. Tom Pallatt stepped down from the board on 30 September, and audit chair Helen Flear will oversee finance until the new CFO arrives.
Interim results for the six months to 30 September 2026 are due in November. The company did not disclose interim revenue or profit figures, the specific consensus figure it is measured against, or any dividend plans in this announcement.
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