Codan Raises Fiscal 2026 EBIT Guidance; Shares Climb 13%

MT Newswires Live

Apr 29

Codan (ASX:CDA) now expects earnings before interest and tax (EBIT) for fiscal 2026 of about AU$235 million and net profit after tax of about AU$170 million, representing an increase of over 60% for both measures versus fiscal 2025, according to a Wednesday Australian bourse filing.

The company said its communications business is expected to achieve revenue growth at the top end of the 15% to 20% range for the fiscal year, with the segment now expected to achieve a 30% profit margin, ahead of the previously targeted timeline of the end of fiscal 2027.

Minelab revenue in the fiscal second half to date is tracking ahead of the strong first-half performance, with the group continuing to expect second-half performance to exceed the first half, the filing added.

Codan will release its fiscal 2026 results on Aug. 20.

The company's shares surged 13% in recent Wednesday trade.

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