In Adelaide, well away from Australia’s better known tech centres, is a small, innovative company that is leading the world in the technology it creates. It’s called Codan (ASX:CDA). And once you read about it, I think you’ll agree that this is a company that’s worth a second look.
The broker has cut its FY15 earnings forecasts for Codan given the company’s strategy to discount prices to clear stock and the likelihood customers will fall away on price normalisation when that occurs. The broker also identifies various headwinds, including a subdued gold price and an uncertain political environment in Africa.