Africa has been a key market for Codan, especially since their...

Africa has been a key market for Codan, especially since their main communications market the US military has cut funding. Where communications have been historically 40% of their income this slipped to 24% partly to do with government cuts and partly the large increase in detector sales in Africa.
Now African detector sales has dried up they are being hit by less sales in both.

But I'm not sure this is the end as some people seem to be saying. This is a company that has over 10 years had an ROE of over 30% and 7% dividend yield.They have a good reputation in both communications and detectors for civil and military uses.

Even if Chinese knock off's are selling well in Africa, US and other military wont be buying Chinese radio's and land mine detectors when they are buying again.
Also their underground mining communications has a lot of potential( maybe).

I was thinking this next few months might be a buying opportunity for the long term. I am going to top up, but within reason.