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DJ Sandal plc Product Launch And Trading Update

 
TIDMSAND 
 
 
   SANDAL PLC 
 
   ("Sandal" or the "Company") 
 
   PRODUCT LAUNCH AND TRADING UPDATE 
 
   12 FEBRUARY 2019 
 
   The Board of Sandal is pleased to provide the following product and 
trading update. 
 
   Wi-Fi Plug Launch 
 
   The Company has this week launched its Energenie MiHome Wi-Fi adapter 
plug which enables users to turn on and off any appliance that plugs 
into a standard wall socket using a smart phone.  The plug is a peer to 
peer standalone product controlled through the MiHome app available for 
iOS and Android devices.  The product is being launched through an 
exclusive retail distribution arrangement with Exertis UK to market and 
sell the product into the UK and Ireland. Initially the plugs will be 
sold through Amazon with other high street and online retailers expected 
to be added in the near future. 
 
   Alan Tadd, Sandal Plc CEO commented "We are delighted to launch our 
first mass market product which allows consumers to control their 
electrical appliances without the need for the MiHome Gateway hub.  This 
gives us a unique position in the Smart Home market as the only provider 
to have a volume consumer item controlled by an app which is also 
compatible with a wider Smart Home system.  We anticipate that sales of 
the Wi-Fi plug will result in a significant increase in users of the 
MiHome app to whom we can then market the full Energenie MiHome product 
range. Our partnership with Exertis UK gives us the ability to market 
the product alongside both the Amazon Echo and Google Home in what is 
already a large and growing market." 
 
   Rod Slater, Head of Smart Technology and IOT at Exertis commented 
"Exertis are the number one supplier to retailers in the UK for Smart 
Technology. Energenie's launch of their competitively priced Wi-Fi plug, 
which works directly with Alexa and Google without needing a hub, is a 
great move enabling Energenie to tap into the huge and growing potential 
of the Hubless Smart Tech market. Energenie are unique in offering an 
upgrade path to customers of the Wi-Fi plug which is fully integrated 
into the Energenie Mihome app and system. Exertis shipped over 160,000 
Smart Plugs in 2018 with a growth rate of over 30% YoY with no signs of 
slowing, we expect similar growth this year and Energenie are perfectly 
placed to capitalise on this fast growing market category." 
 
   Denman's Roll-out 
 
   Following the completion of the Energenie MiHome product range during 
the second half of 2018, Sandal is pleased to confirm the commencement 
of the roll-out of its full Smart Home solution into Denman's Electrical 
Wholesale (part of the Rexel Group) branches.  In-branch point-of-sale 
and stock was delivered to the first 16 branches in January along with a 
full listing on Denman's transactional web site and the rest of the 
branch estate (over 60 branches) is expected to be completed by the end 
of May. 
 
   This gives Energenie MiHome its first listing with a leading electrical 
wholesaler and will provide support for the recently announced installer 
network which provides a solution for the "Done for Me" market. The plan 
is to increase the number of electrical wholesalers who stock the 
Energenie MiHome product range during 2019 and 2020 to achieve 
nationwide coverage, providing opportunities for significant turnover 
growth and complementing the growing retail presence. 
 
   Trading Update 
 
   December 2018 saw a significant increase in Energenie MiHome sales with 
a late surge in product sold through retail, in common with many other 
manufacturers.  Sales of Energenie MiHome products by Amazon increased 
by 30.9% in value and 22.9% in units shipped compared to December 2017. 
Sales also increased in Screwfix by over 10% in volume in Q4 of 2018. 
The previously reported stock overhang in the retail channel that was 
carried into this current financial year and adversely affected sales 
figures in the first half of the year has now been unwound. 
 
   Despite the very encouraging recent sales data for Energenie MiHome 
products, the Company is still seeking further growth capital which will 
enable the brand to fully exploit its current market position.  Without 
such funds, marketing spend has been constrained and as a result sales 
for the year to 31 May 2019 are now expected to be below market 
expectations. 
 
   This announcement contains information which, prior to its disclosure, 
was inside information for the purposes of Article 7 of EU Regulation 
596/2014. 
 
   The directors of Sandal Plc accept responsibility for the contents of 
this announcement. 
 
   Ends 
 
   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 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, Robert Dyas, Target Components, Grahams 
Plumbers Merchants, Plumb Nation, Box.co.uk, Screwfix and Wickes. 
 
   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 Amazon, Argos, and Screwfix. 
 
   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. 
 
 
 
 

(END) Dow Jones Newswires

February 12, 2019 02:00 ET (07:00 GMT)