Why the Codan (ASX:CDA) share price is surging 5% higher today

The Codan Limited (ASX: CDA) share price is surging higher after the company announced a robust trading performance for the first 4 months of the 2021 financial year.

At the time of writing, the Codan share price is up 4.9% to $10.05. The S&P/ASX 200 Index (ASX: XJO) is also having a strong day today, currently up 1.3% at 6,718 points.

Codan designs and manufactures a range of electronic products and software to governments, businesses, aid and humanitarians, and customer markets. The company’s 3 main products are radio communication, metal detection, and tracking solutions.

What’s driving the Codan share price higher?

In today’s release, Codan advised that demand has been strong for its metal detectors, in both recreational…