Marks Electrical Group Plc have announced a final dividend will be paid (subject to shareholder approval at the AGM) on 15 August 2024 to shareholders who are on the register at the close of business on 12 July 2024, and shares will be marked ex-dividend on 11 July 2024. For further information on dividends, see Note 12 to the financial statements.
Other financial highlights include:
Record full-year revenue of £114.3m (FY23: £97.8m) up 16.9% year on year, doubling the revenue they achieved in the year prior to listing (FY21: £56.0m).
Adjusted EBITDA of £5.0m (FY23 £7.5m) in line as previously guided, maintaining strong cost control despite downward margin pressure as a result of consumers trading-down, and continuing their strategy of gaining market share profitably.
Adjusted EPS of 2.45p (FY23 4.82p), statutory EPS of 0.41p (FY23 4.91p).
Further improvements in working capital and a reduction in inventory days to 56 days in FY24 from 74 days in FY23, helping the Group achieve a closing net cash position of £7.8m, whilst making strategic investments in capacity across vehicles, equipment, facilities and systems.
