Its subsidiary Minetec has won a $9.5 million contract to supply a fleet management system for BHP's Olympic Dam copper-uranium-gold mine in South Australia.
It said sales of its metal detectors had exceed levels achieved in the first half and, providing that remained strong and product was delivered under the BHP deal, underlying net profit after tax for the year ending June 30 should be about $38 million.
Codan expects about half of the $9.5 million from the Olympic Dam deal to be delivered in this financial year and the rest coming in the next.
The solution its subsidiary Minetec will provide to Olympic Dam will include proximity detection, tracking and task management.
This is Minetec's first major contract win since it announced in February that i...