Oceania shares fall on slow sales, falling cashflow and rising debt

Oceania shares plunged as much as 7.3% to 76 cents after the results were released. (Image: Oceania)

Thu, 24 Nov 2022

Oceania Healthcare’s sales of new units fell sharply in its latest first half, with chief executive Brent Pattison admitting sales at its Lady Allum care facility have been disappointing.The facility opened in Auckland in September, a couple of months behind schedule, and the company delivered 113 new care suites there in the six months ended September.The slow sales, a 40% drop in operating cashflow to $31.4 million, and a $126.8m jump in debt in the six months, were among the reasons Oceania shares plunged as much as 7.3% to 76 cents af...

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