The Codan Ltd (ASX: CDA) share price is in focus today after the company reported group revenue of about $394 million for the first half of FY26, up 29% on the same time last year. Underlying net profit after tax is expected to exceed $70 million, roughly 52% higher than the previous period.
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What did Codan report?
- First-half FY26 group revenue: ~$394 million, up 29% year-on-year
- Underlying net profit after tax: not less than $70 million, up ~52%
- Metal detection revenue: ~$168 million, up ~46%, driven by strong gold detector sales in Africa
- Communications segment revenue: ~$222 million, up ~19%, meeting the higher end of Codan's growth target
- Approximately $4 million of revenue from legacy Minetec business included
What else do investors need to know?
Codan's results were supported by ongoing strength in both its metal detection and communications businesses. Recreational metal detector sales outside Africa also delivered double-digit growth for the half.
The company's communications business continued to perform well, matching the upper end of its stated 15%–20% growth target for the first half. All figures in this update are preliminary, unaudited, and will be reviewed by Codan's auditors before final results are released.
What's next for Codan?
Codan is set to release its full audited first-half FY26 results on 19 February 2026, which will give investors greater detail about segment performance and outlook. The business remains focused on developing durable technology solutions for customers in demanding environments worldwide.
Investors will be watching for further updates on growth in both the metal detection and communications segments, as well as any news on dividends or refreshed strategic targets.
Codan share price snapshot
Over the past 12 months, Codan shares have risen 99%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
