Winners and Losers: SA’s top companies hit fresh highs
Two of the state’s top companies have hit record highs last week on the back of positive financial results and strong outlooks for the coming year.
Both oil and gas giant Santos and technology company Codan hit fresh trading records last week on the back of strong future business outlooks and positive financial results.
While neither made the Winners list this week, Codan rose nine per cent to hit a fresh all-time high and Santos rose five per cent to a four-year high.
Last week, Codan posted “outstanding” results on the back of hobby treasure hunters and defence tech buyers showing the company some serious demand.
Codan – ranked third in InDaily’s 2025 SA Business Index – reported a 30 per cent rise in revenue to $875 million and a whopping 69 per cent uplift in profits to $175.2 million.
Santos meanwhile posted an uplift in oil production by three per cent in the first six months of 2026, but its net profit fell by 19 per cent to $495.2 million.
But the share price rose after Santos managing director and CEO Kevin Gallagher said the business was “entering the second half from a stronger position”.
“The first half marked an important step forward for Santos,” he said.
“Second-half production is expected to be around 20 to 30 per cent higher than the first half.”
Meanwhile, Altitude Minerals was the biggest Loser of the week, falling 22.22 per cent in the five trading days.
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This included an announcement to the ASX that the company had completed a five-hole drilling program in NSW, in which no significant copper deposit was identified.
The full list of Winners and Losers for the week ended August 21:
Data via Baker Young Limited analysts.
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