IN BRIEF: Marks Electrical CFO Tom Pallatt to leave company

Marks Electrical Group PLC - Leicester, England-based electrical retailer - Announces that Chief Financial Officer Tom Pallatt has decided to leave the company. The company says it is starting a process to appoint a successor. Pallatt will continue in his current role, including "supporting and facilitating a smooth transition".

In mid-June, the company had reported that revenue for the financial year ended March 31 fell 7.9% to £107.9 million from £117.2 million a year prior. Pretax loss narrowed to £366,000 from £1.7 million. Adjusted earnings before interest, tax, depreciation and amortisation fell 42% to £2.5 million in financial 2026, from £4.2 million in financial 2025. The company had proposed no final dividend for financial 2026, compared to 0.66p a year prior. Marks Electrical said at the time this was to "prioritise delivering trading profit recovery in the year ahead." Marks Electrical had said current trading is in line with market expectations but adopted a more cautious outlook on sales growth and margins amid weak consumer confidence, despite seeing stronger demand for televisions and sound systems linked to the World Cup.

Current stock price: 45.25 pence each, down 0.6% on Friday morning in London

12-month change: down 26%

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