Olive tree

Didn't know whether to post this here or in the general tree section, during winter my olive tree lost most of its leaves, the winter was colder than usual here (NW uk) after some pruning in spring it has made a comeback, loads of new growth and looking very healthy, there is just one area on a central branch where it looks odd, does anyone know what this is?

 

It looks like you have some dead wood.
I'm assuming its dead above that?

 

Hi, no it's alive and is flowering well, really weird, it is thinner on those sections in the pics

 

Does the brown go right round the stem?

 

Thanks for your reply, yes it goes right around the stem, I've wondered if it was frost damage, I was going to Prune it just below but it's growing well and it's a major branch of the tree

 

Well if it's growing alright I'd leave well alone.