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Ann: FY15 Results Market Announcement, page-2

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    This is another one of those companies that has been a serial acquirer over a long period of time, such that it becomes difficult to get a sense at any given point how the core business is performing.

    Trouble is, when the acquisitions dry up, that's when one gets the opportunity to take a nice, clean look under the hood, and invariably the engine is not quite the turbo-charge V-12 that it may have been thought to be.
 
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