Codan (ASX:CDA) lifts FY10 profit 142% to $31m

Codan (ASX:CDA) lifts FY10 profit 142% to $31m

Radio and satellite technology company (ASX:CDA) has reported a 142% increase in underlying FY10 profit to $31.1 million.

But audited profit grew by a comparatively small 20% to $14.4 million.

Revenue was $189.1 million, compared to $132.4 million the year before. The company said it was able to achieve these results due to the strong performance of its Minelab Electronics metal detection company.

CDA shares have today dipped 0.33% to $1.500.

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Tags financial resultssatelliteCodan

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