Codan's acquisitions is an attempt to diversify its business away from just traditional metal detectors. It seems like its working out pretty well.
The only negative is the reduced cashflow caused by the inventory buildup for the metal detector business - which actually is a cunning move to beat inflation. However I wonder if this is overinvestment in inventory is set to continue or if this is a one off.
Funny thing is, just when you think the price will go up due to the gold price going up (which would help the metal detector biz), the share price goes the other way. Tempted to top up if this keeps happening.
CDA Price at posting:
$8.11 Sentiment: Hold Disclosure: Held
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