Marks Electrical Group PLC (MRK) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

everybody. We're in sunny London at the moment. Thanks very much for tuning in to listen to our announcements of our first full year on the AIM stock market. We were listed on the stock market on November the 5th, 2021, and this is our first full year. So we're very pleased with our results. The market was very tough. It was backwards by about 10%. We finished just shy of 98 million. That was our revenue for the year ended 31st of March, 2023. The growth was 21.5% over the previous year. Adjusted EBITDA was 7.5 million. Cash conversion was very good. We finished in the net cash position of 10 million. And this is all driven from our next day delivery service and our installation service, which we'll talk about shortly. But we've got 4.8 rating on Trustpilot, which I'm sure you're all well aware of is a real benchmark in any industry now to give you a measure of your performance and your customer service. So that's market leading. We're very pleased with that 4.8 out of 5. And that's driven from the focus that we have on what we do, which is major domestic appliances and consumer electronics, television mainly. That's a market we really want to grow in. So we've got four and a half thousand SKUs in stock, which is made up of over 35,000 actual items, actual boxes. We deliver to over 90% of the UK population. And that's next day delivery. And next day installation is over 65% of the UK population. We've shown that 250 odd employees is now actually about 270 employees now and growing. was about 150, it's on the flow. Moving to the market. So what we're showing here is a major domestic appliances market first, which is the major market in which we operate. You can see the full size of the market here in the small bars. So you can see it's gone down slightly. from 4.5 bil...