Online retailer Marks Electrical reports record revenue

Marks Electrical  says its performance has been helped by strong demand for domestic appliances, such as fridge freezers, washing machines and TVs.

Chief executive officer Mark Smithson – who previously revealed his ambitions of hitting annual sales of £500 million in the next five years – said: “The fourth quarter was another excellent trading period for us, with 19 per cent revenue growth versus a particularly strong comparative of 127 per cent in the prior year.

“Our disciplined focus on margin management, capital allocation and cash generation has also led to a strong returns profile from our asset light operating model.

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