Virtus warns on growth

Virtus has lost market share in its key state, but there's still a lot to like about the IVF provider.

IVF provider Virtus Health’s share price fell almost 20% today after it lowered its full-year profit forecast from growth in the ‘low to mid-teens’ to ‘low to mid-single digits’. The company outlined three reasons: weak volume growth in Victoria, Queensland and the company’s small Singapore clinic; the temporary closure of its Maroubra clinic at the end of April due to storm damage, with consulting activity not expected to return to normal until August; and, most importantly, a loss of market share in NSW, where the company had a market share of 45% at the end of December.

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