Trading Update

Key points

• Communications segment revenue expected to exceed $400 million in H1 FY27
• Strong demand from conflict regions driving growth
• Group NPAT for H1 FY27 expected to be at least $160 million
• Full-year FY27 revenue growth targeted at 30% to 40%

Full summary

Codan Ltd provided a trading update for H1 FY27, highlighting significant growth in its Communications segment due to strong demand, particularly from conflict regions. The segment is expected to generate revenue between $400 million and $410 million, with an EBIT margin of around 40%. The Minelab business also showed solid performance with a revenue run-rate slightly above H2 FY26 levels. Codan expects Group NPAT for H1 FY27 to be at least $160 million. For full-year FY27, Codan is targeting revenue growth of 30% to 40% for the Communications segment.

Guidance

H1 FY27 Group NPAT expected to be at least $160 million

Outlook

Full-year FY27 revenue growth for Communications segment targeted at 30% to 40%