Codan forecasts first-half profit jump, revenue rise, shares hit record

(Adds analyst comment in paragrah 7, updates share moves in paragraph 8) By Anjali Singh Sept 29 (Reuters) — Australian electronics components maker Codan on Tuesday forecast a sharp rise in first-half profit and higher revenue for its communications division, sending its shares to a record high. 2 million reported a year earlier, subject to final product mix and shipments. The upgrade was driven by its communications business, which supplies equipment to defence, military and public-safety customers and accounted for more than half of group revenue in both FY25 and FY26.

Growing defence spending and heightened geopolitical tensions, including conflicts in the Middle East and Ukraine, have boosted demand for battlefield communications, electronic warfare and unmanned systems. 8 million a year earlier, and said about half of that revenue is likely to come from conflict regions. "Demand from conflict regions is currently exceptionally strong, reflecting the proven performance and reliability of our technology in these contested environments," the company said in a statement.

"The upgraded revenue guidance underscores how elevated geopolitical tensions are translating into tangible commercial upside for the company," said Tim Waterer, chief analyst at KCM Trade. 3% higher. Codan's metal detection segment, Minelab, is also performing well, with sales run rates tracking slightly ahead of the second half of FY26, supported by sales of its GPZ 8000 and Gold Monster 2000 devices alongside favourable gold prices, the company said. The GPZ 8000 is Minelab's flagship gold detector, offering advanced performance in challenging ground conditions for finding small to large gold, while the Gold Monster is a fine-gold detector.

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