Marks Electrical Group PLC

Well, good morning, everyone. Welcome to sunny Leicester, the centre of the universe, as I know it. That's where I was born, and that's where we operate from. So a very convenient location right in the middle of England. I started in 1987 when I was 21, so I've been in business 35 years. Started off cleaning cookers in my dad's garage and moved through various shops, went online in about 2005 and bought various warehouses. Now I've got a huge site, 8-acre warehouse, in the center of england um in leicester i was always underfunded because i always wanted to do everything myself um i wanted a business with minimum human intervention so i invested a lot in it in the back end systems but i was i bought a new warehouse this huge site we're in now and it hampered me considerably so i was always constrained by cash i've sold some some shops um About 800,000 pounds, about two years ago now. That gave me some extra cash and some credits that I was owed and chucked that back in the business. The accountant said, no, you know, probably keep it to yourself. But I ignored his advice luckily and put it into stock and off we go. So it was like having a light in the touch paper. Once you've got some money in your business, the difference it makes is incredible. So I was always strapped for cash and now we're not, which is a great feeling, a great position. And what we do, I don't know whether you all know what we do, but we sell domestic appliances. We focus more on the premium sector. So we're not interested in a £20 Morphe Richards kettle that, you know, Amazon can deliver and throw over your gate. We're more interested in the £2,000 Samsung American fridge freezer or the Rangemaster two and a half grand range cooker, a Miele washing machine for £1,000. not your Beko £200 washing machine. We do sell them as well, by the way. We don't want to ostracise ourselves from that market. We want to cover all the bases, all the options, especially in this tough climate. But we focus more heavily on the premium sector, which is where I grew my business from. That was what I was always wanting to sell, premium products. And so we have our own logistics, which makes a hell of a difference. So we've got about 120 van drivers now, some 40 odd vans, over 40 vans now. Josh joined us in a year ago, didn't you, Josh? So I'd just like to welcome Josh.

Yeah, thanks, Mark. I joined in April 2021, really, to help Mark drive the business. Prior to that, I was with FTSE-listed Intertech. And before Intertech, I was actually with Intercape as well. And I was just really excited about the opportunity that Mark and the team here had to really grow the business and grow the market share. So I joined in April, and as Mark said, we successfully listed in November last year.

Yeah, fireworks night, wasn't it, Josh? A bit of irony there. So yeah, thank you very much. So can you flick onto the next slide, please, Hannah? Thank you very much. So revenue last year, up to the end of March, March 31st, was just over 80 million. So we hit what we'd forecast. That was a 44% growth. on the previous year, which was a 78% growth on the year before that. So we hit the number that we were aiming for, which is 9% EBITDA margin. That dropped through 7.2 million EBITDA profit. So that was very impressive. We've got over 40,000 items in stock, 40,000 boxes of products in stock. That's 3,500 SKUs which we stock. Over 50 brands, 200 plus employees now. And it's all driven around our next day delivery, free next day delivery. And that is seven days a week. That is what we do. And that's given us this Trustpilot rating of 4.8 out of five, which is market leading. No one else has got that rating. We're very, very proud of that. Thanks, Hannah. So here you can look at the market. So it's a huge market, the NBA market. It's worth about 8 billion in total. Sorry, the 5.4 billion for the MBA, major domestic appliances or white goods, however you want to call it. Consumer electronics TV market is another 2.5 billion. So it's about 8 billion, the market in total. So we've got about a 1% market share of that or did have at the 80 million at the end of March. We've been increasing that. So you can see though, end of FY22, that was the average through the year, 1.6% market share, and 0.21% for TV. So you can just see the minute share we've got of an immense market. So there's a huge runway there. Thanks, Anna. Now, financial overview. I'll leave this to the expert, Josh. Thanks, Mark.