Marks Electrical reported record sales in its annual pre close trading update ahead of its full year results, as it experienced a “period of significant strategic change and progress”.
The appliance specialist, which saw its profit halve in November, pulled in full-year revenues of £117.2m for the 12 months ended 31 March, up 2.6% year-on-year
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V-Zug’s turnover falls in the first half year
The first half of 2023, the V-Zug Group achieved net sales of 298 million Swiss francs, down by 1.6% compared to the same period of the previous year (303.0 million). The operating result (EBIT) was 5.1 million francs (better than last year’s 4.3 million francs). In the first half of the year purchase prices remained at high levels. To counteract the market-related decline in volumes, further promotional measures and extensive cost-saving measures are being implemented.
Turnover on international markets increased overall by 13.0% to 60.8 million francs but lower sales volumes in Switzerland, especially new buildings and renovations, affected the turnover while the sales price increases, implemented gradually in the previous year and in February 2023, could compensate for the high purchase prices.
Arçelik’s sales
Arçelik has published the balance sheet data relating to the fourth quarter of 2022. Sales increased by 74% compared to the corresponding period of 2021 from 22.5 to 39 billion Turkish liras, (1.9 billion euros at current exchange rates) mainly thanks to the internal market.
Exports were depressed in quantity but much more profitable thanks to the weakness of the Turkish lira and the low cost of energy in the group’s plants.
From a published graph it seems to understand that in Italy sales have contracted by about 5%, less than the European average.
Leveraging, i.e. the ratio between assets and debt, decreased in the fourth quarter thanks to the significant cash generation (the gross margin is around 29%).
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