Virtus Health is generating more IVF treatments in Australia and Ireland, but its business in Singapore is losing money.
The company's fresh IVF cycle activity in Australia increased 6.6 per cent in the first three months of the 2015/16 financial year, chairman Peter Macourt told its annual general meeting.
That was partly due to acquisitions made in the prior year.
"We have experienced volume growth in NSW - our most competitive market - and Queensland," Mr Macourt said.
"However, this has been offset by weakness in Victoria."
He warned that IVF cycle activity in Australia is prone to short term economic influences.
In Ireland, the Virtus-owned Sims Clinic had generated underlying growth of 10.2 per cent from the same period a year ago.
In Singapore, Virtus is achieving 20 cycles per month, but needs 30 cycles to break even.
The Singapore operations made a quarterly earnings loss of $206,000.
Mr Macourt said marketing activities in Singapore were driving interest from patients and other Singaporean fertility specialists.
Cycle growth was improving, and Virtus believes that its clinic in Singapore would provide a valuable service to the community.
Chief executive Sue Channon said Virtus continued to look for market opportunities in the UK and southeast Asia.
Virtus made a net profit of $29.4 million in 2014/15, down five per cent on the prior year.
Its shares were up 11 cents at $6.34.
AAP tsc/dmc
