Winners and Losers: Codan hits a new high in the first week of 2026
After a spectacular 2025 during which it became the state’s third-largest company, communications firm Codan hit a new high on the stock exchange last week amid geopolitical unrest.
Codan shares hit a new record high on Friday of $36.89 per share after the company released an optimistic trading update that same morning.
The company, which specialises in communications technology and metal detection, expects 29 per cent growth in first-half revenue to $394 million.
Underlying net profits after tax are expected to be not less than $70 million, representing 52 per cent growth on the prior corresponding period.
The results for the first half were underpinned by outstanding results achieved by the metal detection business and ongoing strong performance in the communications segment, Codan said.
Codan is SA’s third-largest company, behind Argo Investments and just above Beach Energy, per the 2025 South Australian Business Index.
Its metal detection business delivered $168 million in revenue in the first half, up 46 per cent and driven by sales in Africa.
Communications is a larger business for Codan and brought in $222 million of revenue in the first half, a 19 per cent improvement on the year prior.
The company is expected to release its first-half results on February 19.
Meanwhile, geopolitical unrest has seen commodities (gold, copper, silver and oil) surge over the first full trading week of the new year.
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These commodities remain volatile, but likely also drove share price rises for the likes of Power Minerals, Archer Materials, Australian Rare Earths and Orpheus Uranium, which rounded out the top five Winners after Codan.
Vintage Energy suffered the biggest fall over the five trading days last week – down 22.31 per cent – and was followed by Investigator Silver, Fortifai, Micro-X and Stelar Metals.
The full list of Winners and Losers for the week ended January 9:
Data supplied by Baker Young Limited analysts.
