BUZZ-Australia's Codan hits record high on earnings forecast upgrade

Reuters
Jan 09
BUZZ-Australia's Codan hits record high on earnings forecast upgrade

** Shares of Australia's Codan CDA.AX jump as much as 24.2% to A$39.2, its record highest level

** Stock hits biggest intraday pct gain in 17 years

** Tech firm now expects group revenue to be about A$394 million ($263.90 million) for HYFY26, up 29% pcp

** Co expects underlying net profit after tax (NPAT) to be about A$70 million for HYFY26, up 52% pcp

** Adds that results due to strong performance in metal detection business and communications segment

** Stock up 76.6% in 2025

($1 = 1.4930 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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