Report
Chris Wickham

Sales growth exceeds 30% so far in FY2024

Marks Electrical Group (MRK) released a trading update ahead of its AGM. The company enjoyed strong trading in the first four months of its FY2024 financial year as enhanced delivery options, sustained high service quality levels and more widespread brand awareness helped the company to over 30% sales revenue growth in the period, compared with nearly 14% a year earlier. With further benefits of strong cash conversion – consistent with a proposed 0.66p final FY2023 dividend – we reiterate our fair value of 150p for the shares.
Underlying
MARKS ELECTRICAL GROUP PLC

Provider
Equity Development
Equity Development

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Analysts
Chris Wickham

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