Daily Roundup

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Codan Delivers Stellar First-Half Results

Codan Ltd has kicked off the new year with a bang, providing a trading update that highlights the company's exceptional performance in the first-half of fiscal year 2026 (FY26). The group expects to report revenue growth of around 29% to approximately $394 million, with underlying net profit after tax (NPAT) set to surge by a remarkable 52% to not less than $70 million.

The standout performer was Codan's metal detection business, which delivered a staggering 46% revenue growth. This was primarily driven by strong gold detector sales in Africa and double-digit growth in metal detector sales in other key recreational markets. The communications segment also continued its impressive run, achieving revenue growth of approximately 19%, in line with the company's guidance.

Aristocrat Extends Share Buy-Back Program

In another significant announcement, Aristocrat Leisure Limited revealed that it will be extending its current on-market share buy-back program. The company has already bought back A$701.1 million worth of shares since February 2025, and the Board has now approved an additional A$750 million in share repurchases over the next 12 months. This brings the total aggregate amount to a substantial A$1.5 billion, reflecting Aristocrat's consistently strong cash flow generation and its commitment to delivering shareholder value.

Rio Tinto and Glencore in Merger Talks

The mining industry was abuzz with news of a potential merger between industry giants Rio Tinto and Glencore. The two companies have confirmed that they are engaged in preliminary discussions about a possible combination of some or all of their businesses, which could include an all-share merger. While there is no certainty that an offer will be made or the terms of any such offer, the market is eagerly awaiting further developments in this potential industry-shaping deal.

Lunnon Metals Hits High-Grade Gold at Paringa West

Lunnon Metals Limited also made headlines with its latest exploration results from the Paringa West prospect, part of the company's Foster-Baker Project in the St Ives/Kambalda region. The reverse circulation drilling program uncovered some exciting gold mineralization, including an impressive 8 metres at 5.52 grams per tonne of gold. These results confirm the company's new interpretation of the geological structure and highlight the significant potential for additional gold discoveries within Lunnon Metals' expansive tenement package.