Why is Codan (ASX:CDA) surging Higher?
Codan (ASX:CDA) Hits Record Highs — And the Numbers Back It Up
Codan is having a cracking session today, up more than $5.00 to +$41 and printing fresh all-time highs with the share price telling a story the fundamentals fully support.
The company delivered a trading update this morning that has genuinely impressed the market. Here’s what stood out:
- Codan has upgraded its FY26 earnings guidance, now expecting EBIT of ~$235M and NPAT of ~$170M — both up over 60% on last year.
- The Communications division is growing at the top of its 15–20% target range and has hit its 30% profit margin goal ahead of schedule.
The Communications business is firing on all cylinders, with management targeting a 30% segment profit margin for FY26 — a number that signals this isn’t just a revenue growth story, it’s a quality earnings story. Margins always matter, and Codan is delivering.
Meanwhile, Minelab — the gold detection arm that’s been the surprise packet of FY26 — is tracking ahead of its already-strong first half performance in the second half to date. With gold prices elevated and African demand booming, that’s a powerful tailwind that shows no signs of letting up.
The headline number: Codan flagged Net Income over ~$170mn around 11% ahead of estimates.
