Online electrical retailer Marks Electrical Group reported record full year revenue of £97.8m, according to a trading update for the year to 31 March 2023.

The results represent a growth rate of 21.5%, up from £80.5m in 2022.

The firm is now expecting to achieve a full year Adjusted EBITDA exceeding £7.5m.

“We are delighted to finish the year with revenue growth of 21.5% to a record £97.8m, especially against the prevailing economic back-drop. This further demonstrates the strength of our business model and the attractiveness and advantage of our market-leading customer offering, as more people continue to discover our brand up and down the country,” Mark Smithson, chief executive officer, commented.

Marks Electrical Group recorded a strong trading period in its fourth quarter, with 20.0% revenue growth to £24.8m – up from £20.7m during the same period in 2022.