CDA - Codan Limited

[Captain_Chaza]

Everybody is a Salesman!-------You must Learn to Live with that!

Sailing the CODAN -----------One WEEK at a Time --------------------------&------------------One DAY at a Time

Salute and Stay Safe

NB: You are WELCOME to Block my Charts if that is what yo want
I Can Take Rejection!

 

[finicky]

CDA was hit hard in early trading, down more than 6% but it is clawing some of that back by luncheon.
The volume isn't strong so I'm not reading much into the setback so far. Probably just a few were holding out for today's AGM addresses hoping for a positive reception and jumping off when it didn't happen.The annual report was out a month ago so there could have been no surprises about FY24 and guidance looked benign to my casual reading. It's true I guess that margin was uninspiring for the new communications acquisitions, Zetron and Wave Central, but that would have been in the annual report and the company's explanation is that they hired personnel and invested in 'systems' to prepare the acquired businesses for revenue growth. They expect the margins for these new units to improve consecutively over the next 3 years so they say.

I would be guessing Minelab will go well over FY25 buoyed by the gold price. In W.A for instance there's a rush on of prospectors I read from an external article. It had a photo of two punters armed with gold detectors.

Held
Reducing

 

[galumay]

Agreed.

 

[finicky]

Wonder if Minelab, the laggard division of Codan, is set for an up cycle along with with gold. Publicity like this for gold detection in a bull market for the metal could move things along? The article doesn't mention the brand of detector.

A father and son prospecting duo have unearthed a gold nugget worth more than $10,000 in a remote river on the West Coast of the South Island, a discovery they said was like winning the lottery.

Father and son duo unearth $10k gold nugget in West Coast river

Anthony and Dillon Thom said the discovery of the 40 gram specimen was like winning the lottery.

www.1news.co.nz