Great results, but the market couldn’t care less!
Results and updates from AIM covered here were generally positive, although you wouldn’t believe it from the lacklustre share price reaction. One popular AIM company looks in particularly good shape and can now be picked up for a fraction of the value it was trading at a few months ago.
Marks Electrical: defying the odds? Marks Electrical (AIM:MRK), the fast-growing online electrical retailer with a reputation for excellent service, issued a positive trading update for the six months ended 30 September 2022. Revenue rose 15.1% to £43.1m against a particularly challenging market, with a strong performance driven across all categories, but particularly in televisions, cookers, vacuums and small appliances. Management commented how they have retained a disciplined focus on profitable market share growth in the first half against a backdrop of heightened levels of competitor discounting and marketing. However, there was no mention of profitability, only that there was pressure…