• Group revenue expected to grow 29% to ~$394 million
• Underlying net profit after tax expected to grow ~52% to not less than $70 million
• Metal detection business delivers ~46% revenue growth
• Communications segment achieves ~19% revenue growth

Codan Ltd has provided a trading update for the first-half of the 2026 financial year (FY26), reporting expected strong growth across its business segments. The company expects group revenue for the first-half of FY26 to be approximately $394 million, representing growth of 29% over the prior corresponding period (pcp). Underlying net profit after tax is expected to not be less than $70 million, an increase of approximately 52% over pcp. These results were underpinned by outstanding performance in the metal detection business, which delivered revenue of approximately $168 million, a growth of ~46% over pcp. This was primarily driven by strong gold detector sales in the African region and double-digit growth in metal detector sales in other key recreational markets. The communications segment also achieved revenue of approximately $222 million, representing growth of ~19% over pcp, consistent with the company's stated expectation of growth at the upper end of the 15% to 20% range for the first-half of FY26. Codan will release its full FY26 first-half results on 19th February 2026.

Codan expects its group revenue for the first-half of FY26 to be approximately $394 million, representing growth of 29% over the prior corresponding period. Underlying net profit after tax is expected to not be less than $70 million, representing growth of approximately 52% over the prior corresponding period.