Codan doubles 1H net profit to $13.6m

Codan doubles 1H net profit to $13.6m

Communications and broadcasting equipment designer Codan (ASX:CDA) more than doubled its net profit to a record $13.6 million in 1H10.

The company said the strong performance of its high-frequency radio equipment business contributed to the profit boost.

Revenue rose 25.7% to $89.4 million – also a record for the company – and Codan’s interim dividend grew 16.7% to 3.5 cents per share.

Managing director Mike Heard declined to give a specific second-half forecast. “But the result is likely to be well above the previous corresponding period,” he added.

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Tags hardwareTelecommunicationsfinancial resultsCodan

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