Codan Limited have simply posted their end of year financial results, and what a cracker of a year. Some of the highlights include:
Australia still plays as an essential market for the advancement and sales of Metal Detectors, which can only be great news for us Australians, as we have some of the harshest mineralised ground on the planet. Knowing that the detectors are created here in Adelaide, which testing occurs in our own backyard, can only be viewed as a favorable, for the advancement of new world leading technologies. Anticipate to see some class leading detectors over the next 12 months.
Happy prospecting and keep in mind to wear a mask, comply with social distancing and clean your hands.,.
Over $30 million dollars has actually been invested back into item development, of this 52% is invested into Metal Detection development, this alone can not be matched by any other detector maker in the market. As can be seen from the timeline listed below we must expect to see some interesting new models come out over the next 12 months, including the rumored GPX6000.
I am both concerned and thrilled with what the next 12 months will bring, with the present economic/political and health environment, and the ever increasing world stress. Nevertheless one thing is specific, the worth of Gold and its safe house properties, due to its real value [ compared to Fiat currencies] can just increase gradually. For us prospectors this can just be viewed as a favorable, and a genuine driver to go out there and enjoy this terrific pastime and the benefits it brings.
Metal Detector sales have actually grown 30%, Recreational 11% and Gold Mining 42%.
Greatest full-year revenue in the companys history.Record Metal Detection and Communications salesAnnual dividend of 18.5 cents, totally frankedStrong balance sheet continues – $93 million net money