Codan posts 55% HY profit increase to $71.2m
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The news: Technology manufacturer Codan reported a 55% increase in half-year net profit after tax to $71.2 million.
The numbers: The result exceeded consensus estimates of $69.7 million.
Group revenue was up 29% to $393.5 million, topping analysts’ estimates of $388.8 million.
Earnings before interest and tax was up 25% to $99.8 million.
The company declared an interim dividend of 19.5 cents per share, up from 12.5 cents a year prior and above consensus estimates of 18.2 cents.
The context: Codan CEO Alf Ianniello said the profit increase was driven by strong favourable market conditions in key regions, notably the communications segment, as well as its diversified technology portfolio.
The company maintained its FY26 revenue growth with a 15% to 20% target range, supported by solid underlying demand and full-year contribution from Kägwerks.
The source: ASX
