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Codan’s First-Half FY27 Profit Forecast More Than Doubles on Communications Demand
Codan forecast first half FY27 net profit of at least A$160 million, versus A$71.2 million a year earlier, and Communications revenue of A$400–A$410 million, up from A$221.8 million. Conflict region demand is expected to make up about half of first half Communications revenue; Codan shares rose 18.85% to a record A$...
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Key takeaways
- Codan forecast first half FY27 net profit of at least A$160 million, versus A$71.2 million a year earlier, and Communications revenue of A$400–A$410 million, up from A$221.8 million.
- Conflict region demand is expected to make up about half of first half Communications revenue; Codan shares rose 18.85% to a record A$61.79 while the S&P/ASX 200 was little changed.
- Codan’s latest cited Minelab figures are for FY26: Metal Detection revenue was A$362 million, up 42%.
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openai.comCreate a landscape editorial hero image for this Studio Global article: How did Codan’s upgraded first-half FY2027 profit and communications revenue forecasts compare with the year-earlier figures, what role did. Article summary: Codan forecast first-half FY2027 net profit of at least A$160 million, more than double the year-earlier A$71.2 million. It put Communications revenue at A$400 million–A$410 million, versus A$221.8 million a year earlier. Topic tags: general, general web, news. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fake numbers,
Codan forecast first-half FY2027 net profit after tax of at least A$160 million, more than double the A$71.2 million reported for the same period a year earlier. It also expected Communications revenue of A$400 million–A$410 million, compared with A$221.8 million—an increase of about 80%–85%. These are forecasts, subject to final product mix and shipments, rather than completed half-year results. 1
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How much did Codan’s forecasts increase?
| Measure | First-half FY27 forecast | Year-earlier figure | Comparison |
|---|---|---|---|
| Group net profit after tax | At least A$160 million | A$71.2 million | More than doubled |
| Communications revenue | A$400 million–A$410 million | A$221.8 million | About 80%–85% higher |
Codan’s profit guidance was close to the A$175.2 million in net profit it reported for the full year ended June, according to the market update coverage. 6
Conflict-region orders were a major demand driver
Codan attributed the Communications outlook to strong demand from conflict regions and drone manufacturers. Conflict-region sales were expected to account for about half of the division’s first-half revenue, up from roughly 20% previously, according to reporting on the update. 4
The demand backdrop includes heightened geopolitical tensions and defence spending, with reports citing conflicts in the Middle East and Ukraine. That context helps explain the rise in orders for communications equipment and components used in unmanned systems, but the available reporting does not establish that conflict demand was the only driver. 1
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Communications profitability was also forecast to rise
The revenue outlook came alongside a forecast Communications EBIT margin of about 40%, compared with 26% in the year-earlier period. EBIT is earnings before interest and tax. The higher projected margin indicates that the update was not just about sales growth; Codan also expected the division to earn more profit relative to revenue. 4
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Shares outperformed the broader market
After the outlook was announced, Codan shares rose 18.85% to a record A$61.79. The S&P/ASX 200 was described as little changed, so Codan substantially outperformed the benchmark in that trading session. 18
What the update said about Minelab
The first-half FY27 update focused on group profit and Communications revenue; the available coverage does not provide a new Minelab sales breakdown or identify particular gold-detector models. The latest cited full-year figures show Codan’s Metal Detection business, which includes Minelab, recorded A$362 million in FY26 revenue, up 42%, and A$162.4 million in segment profit, up 65%. 23
Codan’s FY26 results also listed new gold-detector products among the factors supporting group growth, but the cited update does not specify which models drove sales. 26
The key takeaway
Codan’s first-half FY27 outlook points to a sharp step-up in earnings and Communications sales against the prior-year period. The company linked the upgrade to strong conflict-region and drone-related demand, while the market response was markedly stronger than the broadly flat ASX 200. Minelab’s latest cited sales figures are from FY26, not the first-half FY27 update. 1
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What is the short answer to "Codan’s First-Half FY27 Profit Forecast More Than Doubles on Communications Demand"?
Codan forecast first half FY27 net profit of at least A$160 million, versus A$71.2 million a year earlier, and Communications revenue of A$400–A$410 million, up from A$221.8 million.
What are the key points to validate first?
Codan forecast first half FY27 net profit of at least A$160 million, versus A$71.2 million a year earlier, and Communications revenue of A$400–A$410 million, up from A$221.8 million. Conflict region demand is expected to make up about half of first half Communications revenue; Codan shares rose 18.85% to a record A$61.79 while the S&P/ASX 200 was little changed.
What should I do next in practice?
Codan’s latest cited Minelab figures are for FY26: Metal Detection revenue was A$362 million, up 42%.