Looking at page 13 of the presentation
EBITDA for 1HFY16: $4.9m
EBITDA for 1HFY17 $5.3M which is pre-growth acquisitions and after eliminating unfavourable FX movements it is $5.6M. That is an underlying growth rate for Shelston IP of 14%+!! You can somewhat confirm these numbers as well based on the disclosures in the financial report. Big misunderstanding caused by the headline numbers.