MVF - Whats Going On?, page-14

Yeah up until about 5 years ago, IVF was building and the stats showed increased uptake at around 4 - 5% pa. MVF and VRT established their SP's on the thesis that those rate increases would continue with people getting married later etc. But for several year now the IVF industry (not just MVF) have displayed slower cycle growth. The fact that it's not just MVF suggests that the industry is struggling to increase numbers and there's a general decrease in the premium cycles which means that margins are being squeezed as a result. I wish you luck with the SP. I have a similar situation with VRT (I need a better SP) but, unless theirs a shift in public sentiment resulting in higher revenue for providers, I can't see too much variation to share prices here. I've been wrong before so here's hoping.