Ann: Trading Update, page-16

My other half works at one of VRT's low-cost QLD clinics and cycle numbers have been dropping quite considerably over the course of the last year or so. Whilst they had first mover advantage in the low cost market they are now being smashed by a number of competitors who offer their services at a no-cost to the customer basis (i.e, Medicare covers the entire bill). Make no mistake, the drop in earnings is down to two things - Competition and Management not reacting to it...