UK's Marks Electrical falls to record low on drop in H1 core profit

Marks Electrical

12/11/2024 09:43

** Shares of home appliances and electricals firm Marks
Electrical  MRKM.L  down 12% at record low of 51.5p
    ** Co reports H1 adj EBITDA of 2 mln pounds ($2.6 mln) vs
2.3 mln pounds last year
    ** Expects FY25 adj EBITDA in excess of 4 mln pounds
    ** Sees distribution costs representing higher
proportion of revenue, which would ultimately have a detrimental
impact on profit margin and unit economics, given relatively
fixed cost of delivery
    ** Stock down ~45% YTD 



($1 = 0.7807 pounds)

 (Reporting by Megha Kumari in Bengaluru)
 ((megha.kumari@thomsonreuters.com))