Full year Results, page-18

No growth once the principals leave just attrition.
Growth comes from principals who are still managing their practices often with sliding scale purchase price based on how they perform or other incentives.
Number of acquisitions is irrelevant it was the size of the acquisition they paid 10million dollars for a business that would give them 1.2million in revenue per year this was approx 3 times more than they had ever paid for any other acquisition. Also based on earnings they bought on about a 12% return previous acquisitions were I think around 25% return??But anything to maintain the growth illusion