Oceania Healthcare Swings to Loss in Fiscal H1, Continues to Pause Dividends; Shares Down 4%

MT Newswires Live11-22 06:45

Oceania Healthcare (NZE:OCA, ASX:OCA) reported a loss of NZ$0.024 per share for the six months ended Sept. 30, compared with earnings of NZ$0.049 per share a year earlier, according to a Friday filing with the Australian and New Zealand bourses.

Loss for the period was NZ$17.1 million, reversing the NZ$35.2 million profit a year earlier, the filing said.

Revenue rose 0.8% to NZ$132.6 million from NZ$131.6 million. Analysts polled by Visible Alpha expected NZ$133 million.

Oceania Chair Liz Coutts disclosed the board's decision to continue to pause dividends for the interim period. "Looking ahead, the Board expects to resume dividends when we have achieved sufficient sales to have reduced our new stock level and gearing ratio," Coutts added.

The healthcare services provider's Kiwi shares fell nearly 4% in recent Friday trade.

Price (AUD): $0.77, Change: $-0.03, Percent Change: -3.75%

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