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Australia’s Codan Jumps to Record High on Robust Forecast
Demand from conflict regions and drone manufacturers drove Communications revenue to A$400 million-A$410 million, as first-half profit more than doubled, the company said.
- On Tuesday, September 29, 2026, Australian electronics components maker Codan Ltd forecast a sharp rise in first-half profit and communications revenue, sending its shares to a record high above $60.
- Soaring demand for unmanned drones deployed in the war between Russia and Ukraine is driving profit increases, with conflict hotspots in Iran and the Middle East also contributing to volume.
- Codan now expects first-half communications revenue between $400 million and $410 million, compared with $221.8 million a year earlier, while forecasting group net profit after tax of at least $160 million.
- EBIT margin for the communications segment is estimated at 40%, up from 26% in the prior period, while Minelab's metal detection segment is tracking slightly ahead of second-half FY26 revenue levels.
- Despite growth targets of 30–40% for full-year FY27 communications revenue, management remains cautious about second-half forecasting due to the unpredictable nature of conflict-region demand.
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Australia’s Codan jumps to record high on robust forecast
Sept 29 (Reuters) - Australian electronics components maker Codan on Tuesday forecast a sharp rise in first-half profit and higher revenue for its communications division, sending its shares to a record high. The company now expects group net profit ...
Codan Shares Soar Nearly 24% to Record High as Drone Demand From Conflict Zones Doubles Profit Outlook
Codan shares reached a record high after the company raised its profit outlook, citing exceptionally strong communications demand from conflict regions and continued growth in gold detectors.
·New York, United States
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Total News Sources10
Leaning Left0Leaning Right2Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 40%
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