Codan shares soar as FY25 results sail past estimates
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The news: Technology manufacturer Codan led gains on the ASX 200 after reporting a 27% jump in full-year net profit to $103.5 million.
The numbers: Codan shares were up 12.6% to $26.64 at 12:30pm AEST, having more than doubled over the last 12 months.
The company reported a 22% increase in group revenue to $674.2 million, and hiked its full-year dividend 27% to 28.5 cents.
The result topped consensus forecasts for profit ($99.1 million), revenue ($642.4 million) and dividends (27 cents per share), according to Visible Alpha data.
The context: Adelaide-based Codan said full-year revenue was boosted by its $33.6 million acquisition of military communications solutions provider Kägwerks, announced in September.
The company — which makes communications, metal detection, and mining technology — said it is continuing to assess further acquisitions that could "enhance the quality and predictability of group revenues", with a primary focus on opportunities in communications markets.
The source: ASX
