Ann: Acquisition of Projects Assured and Trading Update for FY18, page-4

The acquisitions of Symplicit and Phoenix were supposed to be adding about $48.5 revenue and $6.7m ebitda roughly to earnings, at the time of acquisition. You would doubt that they are performing to that level, as if they are, organic revenue (from pre Symplicit) and EBITDA to now would be roughly (and terrible numbers too):

"Organic" figures based on subtracting acq figures:
Year; Revenue; U EBITDA
2018; 75.5; 13.3
2017; 88.9; 20.3
2016; 104; 20.2

Either organic revenue is underperforming, acquisitions are underperforming, or both I assume, as they are mashed together.