Codan surges after expecting a 52% jump in profits
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More news: Metal detector company Codan surged in early trade after flagging it expects to report a 52% increase in underlying net profit after tax for the first half of the year. Codan also expects revenue to rise 29% to around $394 million.
Shares had risen 17.65% to $37.13 at 11:06am AEDT.
Codan to report 52% leap in first-half underlying profit
The news: Technology manufacturer Codan said it expects to report a 52% jump in underlying net profit after tax for the first-half period.
The numbers: The company's preliminary results show that it delivered underlying profit of over $70 million for the six months to 31 December 2025.
Codan expects group revenue for the period to be around $394 million, up 29% over the prior corresponding period.
The context: Adelaide-based Codan — which makes communications, metal detection, and mining technology — said the first-half figures were underpinned by "outstanding results achieved by the metal detection business and ongoing strong performance in the communications segment."
Metal detection delivered revenue of around $168 million during the period, up 46% year on year, driven by gold detector sales in Africa.
Codan's communications segment achieved revenue of $222 million, up 19% year on year. The company previously guided for growth of between 15% and 20% for the business.
Codan will release its FY26 first-half results on 19 February.
The source: ASX
