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Codan Limited (ASX:CDA)

ALERT: Price-sensitive ASX Announcement for CDA
Current share price for CDA : $44.920 8.54 (23.47%)+
Announcement
Release
29 Apr 2026 8:41AM
Price at Release
$36.380
Full Release
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Summary
Codan Limited has provided a trading update for FY26, reporting that the company is performing above expectations, particularly in its Communications segment, which is experiencing strong revenue growth. The company forecasts a segment profit margin of 30% for FY26, earlier than planned. Minelab's revenue continues to outperform, supported by high demand and favorable conditions. Codan projects significant increases in both EBIT and NPAT, with full-year results expected in August 2026.
Key Points
  • Codan Limited is trading above expectations in the second half of FY26.
  • Communications business is targeting a revenue growth range of 15% to 20% for FY26.
  • Communications revenue grew by 19% in the first half of FY26.
  • The Command-and-Control portion (Zetron) of the Communications business is expected to deliver consistent revenue in both halves of FY26.
  • Strong demand from defense customers supports growth in software-defined radios (SDRs).
  • Communications business is expected to achieve revenue growth at the top end of the 15% to 20% range for the full year FY26.
  • Communications segment profit margin is expected to reach 30% in FY26, outperforming the initial timeline set for FY27.
  • Minelab revenue in the second half of FY26 is tracking ahead of the first half.
  • Earnings Before Interest and Tax (EBIT) is expected to reach approximately $235 million.
  • Net Profit After Tax (NPAT) is expected to be approximately $170 million, representing an increase of over 60% compared to FY25.
  • Codan will release its FY26 full-year results on 20th August 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.