Ann: 2016 AGM CEO Presentation-BPF.AX, page-5

Exactly. This is a company that is going to require some patience from its shareholders. BPF made 3 acquisitions to expand its business offerings to clients and to expand geographically to include NZ. This takes time to sort through all the personnel,synergies,acquisition costs,contracts etc.
In the meantime while the revenue increases,the bottom line stagnates.
Eventually when everything lines up the synergies will lead to a big jump in profitability. There is a lag period but the short-term investors don't have the patience for this and subsequently there has been sell pressure on the share price.
Fast forward 12 months and beyond and the benefits of the company's investments,coupled with organic growth, should have a positive impact on the bottom line.
The market will react accordingly and we should see a strong rise in the share price similar to RXP in my opinion.