Increase in demand for metal detectors drives record profit for Codan
Mawson Lakes company, Codan – a metal detector manufacturer and communications company – has almost tripled its market capitalisation to more than $1.9 billion in the past five months. The success has been driven by the launch of a new series of metal detectors (targeted at coin and treasure hunters) alongside the successful delivery of multiple large-scale communication systems projects.
Codan has also significantly increased its Minelab retail footprint across North America, Europe and Asia Pacific to expand the geographic reach of its gold detectors.
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