CDA - Codan Limited

[prawn_86]

Well picked ROE.

From the chairmans report (my bold):

The first quarter of FY13 has seen the continuation of the strong business conditions experienced by Codan in the second half of FY12, with the metal detection division and gold detector sales in particular, performing strongly. Given the continued strength of our business, it’s likely that we will post a very strong net profit after tax result for the first half. The Board is of the view that net profit after tax should reach $25 million dollars for the first half, which will be more than double that of the first half last year and will be the highest half year profit number in the company’s history.

And targeting 40% higher for the FY overall next year.

 

[ROE]

Well picked ROE.

From the chairmans report (my bold):



And targeting 40%

higher for the FY overall next year.

I assume u got some then when you message me and
I said 140 is a bargain?

 

[prawn_86]

I assume u got some then when you message me and
I said 140 is a bargain?

Yes picked some at at 1.45 before the latest dividend was paid, so with hindsight wish i had bought more

 

[prawn_86]

Keeps on pushing higher. Closing on a high and up another 6% on the back of a down day for the overall market.

Would love a chartists view of the current position, i would have thought a pullback would be needed soon

 

[ROE]

Keeps on pushing higher. Closing on a high and up another 6% on the back of a down day for the overall market.

Would love a chartists view of the current position, i would have thought a pullback would be needed soon

all about earning expectation now...would it pull a 20c EPS or higher..

and if it does would it increase dividend? because if that is that case above $2 isn't demanding....

Breaking 52 week high that would bring out most techies as a buy

 

[prawn_86]

Up another 6% so far today. Volumes are fairly sparse of late but it has still continued to push higher over the last 2 weeks.

 

[Country Lad]

Has been kind and generous to me and looks ready for another break.

Cheers
Country Lad

 

[prawn_86]

Has been kind and generous to me and looks ready for another break.

Up nearly 5% so far this morning. Great call

 

[McLovin]

Up nearly 5% so far this morning. Great call

Half yearly should be out soon. It's probably why the SP is having a run.

 

[skc]

Half yearly should be out soon. It's probably why the SP is having a run.

At this level it better be a cracker of a result...imo.

I've noticed a few stocks putting on big runs in the second half of 2012 on the back of strong June results... only to hit a bit of a wall when they provide market update.

So at this level it's a hold for me unless you are quite certain about the upcoming report.

 

[McLovin]

At this level it better be a cracker of a result...imo.

I've noticed a few stocks putting on big runs in the second half of 2012 on the back of strong June results... only to hit a bit of a wall when they provide market update.

So at this level it's a hold for me unless you are quite certain about the upcoming report.

If they hit the mark that they said they would at the AGM, then CDA is on ~10.5x 2013 FY earnings.

 

[prawn_86]

Still grining higher with big volumes going through Friday and today.

Im at work so dont have my normal platform, but average volume looks to be 150 - 200k per day yet Friday had 1.5m and today has had 500k already...

 

[tinhat]

Still grining higher with big volumes going through Friday and today.

Im at work so dont have my normal platform, but average volume looks to be 150 - 200k per day yet Friday had 1.5m and today has had 500k already...

The figures I have is that volume on Friday was 510,000 and that average daily volume (past 21 days) is 396,000.

 

[prawn_86]

The figures I have is that volume on Friday was 510,000 and that average daily volume (past 21 days) is 396,000.

Sorry, it must have been Thursday that was 1m plus and Friday not today that was 0.5m. I really should not check this stuff at work

 

[ROE]

Half-year highlights:
Highest half-year profit in the company’s history
Interim dividend increased by 50% to 6.0 cents
Continued strong growth of metal detector sales
Tough business conditions in Radio Communications, but a major product
release achieved
Successful acquisition of land mobile radio business and related capital
raising
Minetec business continues to transition to a technology solutions supplier
to the mining industry
Second-half profit for FY13 expected to be as strong as first half

 

[Country Lad]

Interesting to watch CDA. A turnaround of 10% from being down 10 cents just before the announcement to now being up 23 cents. Nervous nellies probably now kicking themselves.

Half-year highlights:
● Highest half-year profit in the company’s history
● Interim dividend increased by 50% to 6.0 cents
● Continued strong growth of metal detector sales
● Tough business conditions in Radio Communications, but a major product release achieved
● Successful acquisition of land mobile radio business and related capital raising
● Minetec business continues to transition to a technology solutions supplier to the mining industry
● Second-half profit for FY13 expected to be as strong as first half

Cheers
Country Lad

I still hold lots

EDIT: ROE beat me to it while I made a cup of coffee.

 

[ROE]

I always like my stocks keep paying me more and more dividend each year more power to
drive the compounding machine

 

[prawn_86]

I still hold lots

Yeh this is my 2nd biggest holding behind CAB.

Even if they dont increase the final divvy i will still be getting over 7.5%pa based on my purchase price. Good to see also that they are forecasting the same again for the 2nd half

 

[Country Lad]

................Good to see also that they are forecasting the same again for the 2nd half

That would be the main reason for the rise - another example of how the market is forward looking. Good result on a day where the market is down a bit.

Cheers
Country Lad

 

[McLovin]

Wish I'd got more at $1.50. I was building a posi and then they ran away.