Marks Electrical Group PLC (MRK) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to not so sunny Leicester. A bit overcast here today. So thanks for taking the time to come and listen to us. Hopefully you'll start buying into our story, which is, you know, we're doing exceptionally well. So we'll just run through some key highlights to start off with. So if we look on there, we can see 15% growth year on year. I'll just run through the numbers pretty quickly and then we'll put some colour on the numbers as we go through the presentation. So 15% growth, which is okay. We're relatively happy with that. Considering the market was backwards almost 15%, so we've done all right. Sales, 43 million. We've finished with a net cash position of just shy of 8 million, which is very good. Our margin wasn't quite where we wanted it to be, but that will, Josh, will put some... flavour on that. We're expecting to get to the reported number by the end of the year. We paid an interim dividend in August. So it's a maiden dividend that we paid. So we're still finished with the cash position being very strong. Our Trustpilot rating is 4.8 still. We're trying to obviously improve that and trying to strive for 4.9. It's very, very difficult to actually even maintaining that. And that's all driven through our free next day delivery, seven days a week. And I must add, it is still free. We've looked at it and our competition are all signed to charge. We felt it's a little bit immoral sort of bolting on a delivery charge when a company can run profitably without sort of piling more misery on the people who are, for example, buying a £200 or £300 product. You then stick £20, £30 on top of that. It's thought, excuse me, it seems unfair. So we decided we're not going to do that. Excuse me. Houston, we have a problem. Phone ringing. And we've got over 35,000 SKUs in st...