Codan (ASX:CDA) Extends Detection and Communications Growth Story

Aditi Sarkar

17 September 2026 08:35 PM AEST

Codan (ASX:CDA) Extends Detection and Communications Growth Story

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Key Highlights

• Codan operates Minelab and a global Communications business.

• The Communications division serves defence and security customers in several countries.

• FY26 guidance had pointed to net profit growth of more than 60%.

• The company expanded its US defence-focused capabilities through acquisitions during the year.

Codan (ASX:CDA) combines its Minelab metal-detection Business with a communications division serving defence and security customers across several international markets.

Company Business

Minelab supplies metal detectors to gold, recreational, security and other users. The Communications division supplies tactical communications equipment to defence and security customers in Australia, the United States, Canada, New Zealand and the UK.

Sector Context

Codan operates across two markets with different Demand drivers: gold detection is linked to Mining and recreational activity, while communications demand is influenced by defence procurement and security requirements.

Risks to Consider

Communications orders can be lumpy and dependent on procurement cycles. Minelab demand can also vary with gold activity and consumer conditions. Acquisition integration and delivery against orders remain important.

What to Watch Next

The next focus points are order flow in Communications, Minelab demand, margins, acquisition integration and whether recent Earnings growth continues.

FAQs

Q: What are Codan's main businesses?

A: Its main franchises are Minelab metal detection and Communications equipment.

Q: Who buys its Communications products?

A: Customers include defence and security organisations in Australia, the United States, Canada, New Zealand and the UK.

Q: What drove FY26 profit growth?

A: The company attributed the improvement to demand across defence communications and gold detection.

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