SANDAL PLC
TRADING UPDATE
The Board of Sandal Plc, the designer, developer and manufacturer of electronic products is pleased to announce the signing of a Design and Supply agreement with Momit, a Spanish company engaged in the smart home sector. Momit is redesigning its successful smart thermostat to enable its compatibility with the Energenie MiHome platform.
The fully featured Momit product has already sold well in several European markets and Momit CEO Miguel Sánchez stated: "an alliance with Energenie MiHome and their excellent proven sales channels is the most effective way of entering the UK market."
Based on the current Sandal price positioning, the directors estimate that this product and the anticipated additional radiator valve sales it will bring, will add in excess of £500,000 of sales in the 12 months following its planned launch in September 2017.
Alan Tadd, CEO of Sandal said "We have been seeking a suitable partner for this product for some time. The agreement with Momit provides Sandal with a device that is a major part of our product road map and when combined with our already successful radiator valves and inline relay, provides our customers with an excellent cost effective heating control solution. The combined solution will offer consumers the ability to maximise their potential savings."
In addition, the Board is pleased to announce that Energenie MiHome has been announced as one of the winners of the prestigious Cummins Environmental Gateway corporate acceleration programme. This will mean that our products are approved for use within the Cummins global business to reduce Cummins energy footprint.
Launched in September 2016 by Cummins Inc, a global power leader, the Cummins Environmental Gateway focuses on the adoption of sustainable innovations rather than on ideation process providing an opportunity to accelerate their access to market thereby providing new opportunities and revenue streams in territories not currently engaged with the business.
Alan Tadd added "The award of the Cummins Environmental Gateway corporate acceleration programme further demonstrates our ability to work with global companies and is a recognition of the quality and performance of our products and our ability to deliver both B2B and B2C solutions."
The directors of Sandal Plc accept responsibility for the contents of this announcement.
Enquiries:
Sandal Plc 01279 422022
Alan Tadd, CEO
Oliver Tadd, Director
www.sandal-plc.co.uk
Cairn Financial Advisers LLP
David Coffman/Jo Turner 020 7213 0880
MB Communications
Maxine Barnes 07860 489571
Notes to editors:
Sandal plc commenced business in 1996 and joined NEX in March 2015. The Company 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 Energenie MiHome range of products aimed at the "Home Automation" and "Internet of Things" marketplace.
The range of Energenie MiHome home automation products makes the remote operation of everyday household appliances and energy monitoring more accessible through integration with smartphone and tablet connectivity. The Energenie MiHome range is also integrated with the major players in the home automation market including Google Nest and Amazon Echo. Energenie MiHome products are available through a number of mainstream retailers including Amazon, Argos and Sainsbury's. In addition Energenie also 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.
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.