Codan Reports FY24 Strong Business Growth

FY24 marked another successful year for Codan, where the company remained focused on driving sustainable and profitable growth.

The Communications business, comprising Zetron and Tactical Communications, grew both revenues and segment profit by 19% over the pcp, and maintained their segment profit margin at 25% whilst investing in new engineering and sales capability required for future growth. The closing order book of $197 million increased 21% over the pcp, providing further confidence that growth will continue to be achieved in FY25; we continue to see significant opportunity for these businesses to grow both organically and inorganically in FY25.

The target for organic revenue growth from Communications in FY25 remains in the 10 to 15% range.

Their recently published Annual Report highlights the key achievements of 2024.