Marks Electrical eyes £200m stock market float

Marks Electrical eyes stock market float
(Image: Marks Electrical Twitter account)
// Marks Electrical eyes stock market listing that could value it at around £200 million
// It hired stockbroker Panmure Gordon to advise on a possible flotation later this year
// Last year Marks Electrical recorded pre-tax profits of £790,000 on the back of £31.5m in sales

Electricals retailer Marks Electrical is reportedly eyeing a stock market listing that could value it at around £200 million.

According to The Times, Marks Electrical hired stockbroker Panmure Gordon to advise on a possible flotation later this year.

Marks Electrical was founded in 1987 by Mark Smithson, starting off as a shop in Leicester before becoming the digital-first retailer of white goods it is today.

Last year it recorded pre-tax profits of £790,000 on the back of £31.5 million in sales.

A spokesman for the retailer told The Times that since then, Marks Electrical’s revenues have climbed to £56 million in the year to March this year.

A stock market listing could lead to Marks Electrical raising new money, as well as Smithson – who continues to run the business – selling off some of his ownership stake.

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