longbow62
Forum Supporter
Codan is the parent company of Minelab. The year end financial report came out today. A record 90 million in after tax profit. 42% growth in recreational metal detector sales. Metal detection over all makes up 326.5 million in sales. Vanquish coin and treasure detectors exceeded expectations. 107 million dollars in North America. Africa (Gold Detectors) 203 million. FY21 30 million invested in product development. 30% of employees are engineers.
Minelab has the dollars and brain power for product development. They have a great track record for putting out exceptional detectors. That's not to say they couldn't do some things better. Namely customer service and build quality.
I don't think any other metal detector company has the money or brain trust to overtake them.
https://codan.com.au/wp-content/upl...ull-year-investor-presentation_19.08.2021.pdf
Minelab has the dollars and brain power for product development. They have a great track record for putting out exceptional detectors. That's not to say they couldn't do some things better. Namely customer service and build quality.
I don't think any other metal detector company has the money or brain trust to overtake them.
https://codan.com.au/wp-content/upl...ull-year-investor-presentation_19.08.2021.pdf