Strategic Minerals Regulatory News (SML)

3 Apr 2007 12:18

Smallbone PLC03 April 2007 SMALLBONE plc("Smallbone or "the Group") AGM Statement At Smallbone plc's AGM held today Charles Smallbone Chairman and Chief Executivemade the following comments: "I am pleased to report that the Group made significant progress during 2006 andlaid the necessary foundations for substantial earnings growth over the nextcouple of years and beyond. I am also pleased to announce, following today'sAGM, shareholders' approval to pay our maiden dividend of 1 pence per share. With a Group order book of £28 million, 40% up on the previous year, we started2007 with confidence and excitement about our growth opportunities. Developmentsin the first quarter of this year have only strengthened that confidence. Wecontinue to experience a positive market environment in the UK and ourstrengthening US order intake, both in Smallbone and Paris Ceramics,demonstrates the distinct qualities of our sector of the market when compared tothe widely reported problems of the US housing market in general. Smallbone'ssecond showroom in the US is on schedule to open in June in Greenwich,Connecticut. We continue to pursue our consistent growth strategy of:- opening new showroomsin our established markets to broaden our distribution; international expansion;increasing and refreshing the product offering; improving margins; andidentifying suitable acquisitions. The Directors believe that the strength ofour business model and the logic of our strategy have formed a solid platformfor future earnings growth." The Company is also pleased to announce that all resolutions proposed toshareholders at the Annual General Meeting were passed. 3 April 2007 Enquiries: SMALLBONE plc Tel: +44 (0)1380 729090Charles Smallbone, Chairman & Chief ExecutiveGordon Montgomery, Finance Director COLLEGE HILL Tel: +44 (0)207 457 2020Kate Pope This information is provided by RNS The company news service from the London Stock Exchange