Phoenix were a substantial contributor to ACO results. They need...

Phoenix were a substantial contributor to ACO results. They need to get their house in order.

From the FY15 Prelim-Report

(c) Phoenix
On 12 January 2015, the Group acquired 100% of the issued share capital of Phoenix Institute of Australia Pty Ltd (‘Phoenix’), a Company based in Australia. The objective of the acquisition is to add further courses to Phoenix’s current scope of delivery in areas of current need for clientele of the Group and the Directors’ believe provides material upside for the Group.

iv. Phoenix contribution to the Group’s results
Phoenix contributed $56,040,000 and $11,200,000 to the Group’s consolidated revenues and consolidated profit, respectively from the date of the acquisition to 30 June 2015. Had the acquisition occurred on 1 July 2014, the Group’s revenue for the period to 30 June would have been $1,700,000 higher and Group’s profit would not be materially different to the amount reported.