Codan shares surge after upgrading FY26 guidance
Make us a preferred source
Make us a preferred source on Google
More news: Shares in Codan surged in afternoon trade after the company said it is tracking at the top of its revenue guidance range, adding it is on track to outperform previous expectations.
Shares had risen 16.44% to $42.36 at 1:44pm AEST.
Codan targets 60% jump in earnings, profit in FY26
The news: Communication products maker Codan said it is trading “above expectations” in the second half of FY26, tracking at the top of its revenue guidance range.
The numbers: Codan said its core communications business is expected to deliver full-year revenue growth at the top end of its 15% to 20% guidance range, after recording 19% growth during the first half.
The company also expects to outperform its target of achieving a profit margin of 30% in its communications segment by the end of FY27. It now aims to deliver this margin in FY26, up from 26% in FY25.
As a result of an improved revenue outlook and profit margin in its communications business, Codan now expects earnings before interest and tax to be $235 million and net profit after tax to be $170 million, marking a 60% increase for both line items compared to FY25.
The source: ASX
