Monash IVF expects to continue to expand despite a contraction in key markets for assisted reproductive services.
Monash says the local market contracted by 0.6 per cent in the six months to December 31, but it marginally increased its market share to 38.1 per cent.
In the prospectus for its market listing in June 2014, the company forecast growth of 4.1 per cent, but also warned reproductive services rates can fluctuate over short periods.
"While conditions remain challenging, we are confident we can sustain a growing position in our markets," chief executive James Thiedeman said.
Improving pregnancy success rates and an expanding range of services and treatment options continued to lift Monash's new patient registrations, he said.
The company's net profit doubled to $11 million in the first half of the financial year as the number of its patient treatments in Australia and overseas grew by seven per cent to 7,751.
Growth in the fertility business in Malaysia was strong at 14 per cent.
The company expects an improved financial performance in the second half of 2014/15, but given a contracting market, it has downgraded its full year net profit forecast from $26 million to $23.9 million.
Shares in Monash gained half a cent to $1.405.
MONASH IVF PROFIT JUMPS DESPITE CONTRACTING MARKET
* Net profit of $10.98m, up from $5.43m in 2013/14
* Revenue of $60.3m, up 5pct from $57.6m
* Interim dividend of 3.25 cents per share
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