25 November 2016
SANDAL PLC
("Sandal" or the "Company")
AGM STATEMENT
At the Annual General Meeting ("AGM") of Sandal plc, the designer, developer and manufacturer of electronic products, being held in London at 10:30 a.m. today, the Company's CEO, Alan Tadd, will make the following statement:
"Trading since the start of the financial year has been in line with the Board's expectations and is within the forecasts contained in Daniel Stewart's research note published on 18 October 2016.
"Since the end of the financial year under review, the Company has announced the integration of its Energenie MiHome products with the Nest Intelligent Learning Thermostat and the Amazon Echo range of home automation products which should enable the Company to maximise sales for its MiHome Home Automation product range.
"A further exciting recent development is the adoption of the MiHome product range by Sainsbury's and Argos. MiHome product will be available in 100 Sainsbury's stores before Christmas and will be in the Argos catalogue being launched in February 2017. The whole MiHome range will be available online at Argos.
"We believe this is a significant development for the market as it indicates that the Smart Home product category is starting to enter the consumer mainstream. We have always believed that market penetration would start to gather momentum in 2017 and it would appear that this is indeed the case. Our pricing strategy and strong distribution arrangements with Exertis (UK) Ltd. will enable us to reap the benefits of this market change. "
Ends
The directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
Sandal Plc 01279 422022
Alan Tadd, CEO
Oliver Tadd, Director
www.sandal-plc.co.uk
Daniel Stewart & Co plc 020 7776 6550
Peter Shea/Daphne Zhang
MB Communications 07860 489571
Maxine Barnes
Note to Editors:
Sandal plc commenced business in 1996 and designs, develops and manufactures consumer electronics products. Its business is divided into two distinct product groups, PowerConnections, a long established wholesaler and reseller of a successful and patented range of converter plugs and power cables, and Energenie, which sells a newer product range that includes energy saving products, portable charging devices and the new MiHome range of products aimed at the "Home Automation" and "Internet of Things" marketplace.
PowerConnections is a supplier to customers, in the UK and abroad, of single-phase electrical connection products. The products are manufactured in three partner factories in the Far East and have distributors worldwide for its range of patented converter plugs. The Company's product portfolio consists of International Power Leads, Rewireable Plugs, Converters and Connectors. These products are stocked in the Far East, Australia and UK.
Energenie offers Eco and electrical, travel and energy saving products for homes and offices, reducing energy usage and the Home Automation sector. It has store listings for its current products with several large retailers including Homebase, Maplin, Amazon, Screwfix, Toolstation and ASDA.
The new range of MiHome home automation products makes the remote operation of everyday household appliances and energy monitoring more accessible to consumers due to better affordability and simplicity of control through smartphone and tablet connectivity.