Marks Electrical Group PLC shares were up on Tuesday, after it said it was on track to meet full-year revenue targets.
Shares in the Leicester-based electrical products retailer were up 3.9% to 93.50 pence each in London on Tuesday afternoon.
Marks Electrical reported revenue of £72.9 million in the nine months to December 31, up 22% from £59.8 million a year earlier.
Further, in the three months to December 31, revenue jumped 33% to £29.8 million from £22.3 million.
The company noted strong performance across all product categories, but particularly in A-rated energy efficient laundry appliances, televisions, refrigeration and small domestic appliances.
As a result, Marks Electrical said it is on track to achieve full-year targets.
Chief Executive Officer Mark Smithson said: ‘We’ve worked closely with our suppliers throughout the quarter, enhancing our position as a growing, but agile, national retail partner of choice. As supply has stabilised during the last 12 months, we have been able to capitalise on our strong net cash position to enhance our inventory range and product availability, further improving our offering for customers.
‘After an improvement in profitability in the third quarter, we look forward to maintaining our performance management discipline on revenue, profit and cash in order to achieve our full year targets and continue to demonstrate our differentiated proposition,’ Smithson added.
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