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Marks Electrical Group (MRK) investor relations material
Marks Electrical Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1-26 was £53.0m, down 9.9% year-over-year, reflecting a challenging and declining market environment.
Gross margin remained stable at 24.3% (H1-25: 24.6%), with profitability impacted by cost headwinds and strategic inventory repositioning.
Adjusted EBITDA fell to £0.5m (H1-25: £2.0m), and adjusted EPS was a loss of (0.31)p (H1-25: 0.72p).
Operational focus included the first full year of Microsoft Dynamics 365 ERP, with initial costs and disruption but anticipated future efficiencies.
October saw a return to revenue and profitability growth, supporting confidence in revised FY26 expectations.
Financial highlights
Revenue declined 9.9% YoY to £53.0m, while the market contracted by 2.0%.
Gross margin was 24.3%, down 30bps YoY.
Adjusted EBITDA margin dropped to 0.9% from 3.4% YoY.
Statutory EPS was a loss of (0.44)p, improved from (0.79)p YoY; adjusted EPS was a loss of (0.31)p versus 0.72p YoY.
Net cash at period end was £1.5m, down from £6.7m YoY, mainly due to working capital outflows for inventory realignment.
Outlook and guidance
October marked a return to revenue and profitability growth, in line with revised FY26 forecasts.
Management remains focused on sustainable, profitable growth, leveraging efficiencies from D365 and disciplined cost management.
The business is well positioned to capture market share as conditions recover, with a strong platform in a £7bn market.
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