Trading update & Board Changes

Marks Electrical Group plc ("Marks Electrical", the "Company" or the "Group"), the online electrical retailer, is pleased to provide an update on trading ahead of its unaudited interim results for the six months ended 30 September 2026, which are expected to be published in November.

The Group expects full-year revenue for the year ending 31 March 2027 ("FY27") to be broadly in line with market expectations. Pleasingly, the continued focus on operational efficiencies and fixed cost optimisation, together with product gross margin improvements has resulted in stronger than expected profitability during the first six months of the year. As a result, the Board now expects full-year Adjusted EBITDA to be ahead of market expectations, at no less than £3.75 million for FY27.

Chief Financial Officer appointment

Following the announcement on 3 July 2026, the Company is pleased to announce the appointment of Philip Luke De Villanueva as Chief Financial Officer and a director of the Company with effect from 1 December 2026.

Philip is an ACCA-qualified finance professional with more than 15 years of experience. He currently leads the finance function for Gamma Communications plc's Enterprise Markets business unit. Prior to joining Gamma Communications, Philip spent almost ten years with Balfour Beatty plc in a range of divisional and group finance roles, progressing to a senior finance position with responsibility for the Construction/Defence South region. Tom Pallatt will be stepping down from the Board later today. Helen Flear, Audit Chair, will be providing oversight of the finance function until Philip joins the Board.

Mark Smithson, Chief Executive Officer, commented:

"I am extremely pleased to be able to positively update the market on our performance and elevated profit expectations for FY27 ahead of our peak trading period, despite the significant cost inflationary headwinds that we continue to face, particularly within our fuel cost base. We continue to improve in all areas of the business that ultimately drive performance and I feel confident that with the people and resources we have put in place we are well placed to continue through our peak trading period.

In addition, we are also very pleased to welcome Philip to Marks Electrical. His listed-company finance experience, commercial focus and track record across financial planning, governance, transactions and finance transformation will be valuable as we continue to develop the business. I would also like to thank Tom for his contribution to Marks Electrical and wish him well for the future."

Additional disclosures

As required under Schedule Two, paragraph (g) of the AIM Rules for Companies, the Company confirms that Philip Luke De Villanueva (aged 42) does not currently hold, and has not held, any directorships or partnerships during the past five years.

There is no further information to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.