Iowa's 911 Network Backed by Australian Tech Giant as Codan Profits Surge 69%

Australian defense and detection technology company Codan Limited (ASX:CDA) reported a 69% surge in net profit for fiscal year 2026, driven by booming demand for unmanned systems and new metal detector products. The results, announced August 20, 2026, carry a distinct Iowa connection: Codan's Zetron division now services more than 80% of all public safety answering points in the state through its Hosted Services Iowa contract.

Shares jumped 11.8% to $48.61 following the announcement, trading near the 52-week high of $48.99, as investors responded to both the strong results and an upbeat outlook for FY2027.

What drove Codan's record-breaking financial performance?

Codan reported revenue of $875.0 million for FY2026, representing 30% growth versus the prior year. The company's earnings before interest and taxes (EBIT) rose 67% to $244.1 million, while net profit after tax climbed 69% to $175.2 million. Both figures came in slightly above the guidance provided to the market on April 29, 2026.

The company declared an annual dividend of 48.5 cents per share, fully franked, representing a 70% increase versus FY2025. Management emphasized that the strong performance reflected what it called