CDA +14.52%; the communications and metal detection business saw shares jump to 3 months highs today after providing guidance for performance in the second half. The company expects net profit for the second half to be in line with the record $50m posted in the first half, in line with consensus expectations. Cash flow for the period has also been strong, banking $41m so far, bouncing back from the -$13m achieved in the 1H. Demand has remained strong across the board, and management said the inventory investment in the first 6 months of the year is now contributing to strong performance in the back end of the year.
MM is bullish CDA
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