Ann: Aquisition of eStore, page-17

Please excuse me if this has already been addressed, I had a look through most threads and announcements but couldn't see a reference.

Have the performance hurdles for this acquisition been published anywhere, I am have some queries about the quality/direction of this business but overall the SHP proposition looks very interesting.

The estore aquistion suggests an additional revenue to the company of $7million per year.  A quick google search shows many articles from around 2011 with claims the company posted $46 million revenue in 2009-2010 and had projected more than $100 million in 2015.

So my main query is basically what happened!  Why the the revenue drop so dramatically and how was the company valued at up to $1.8 million now. Its one thing not to achieve ambitious sales growth, its another again to see a massive revenue decline in the same period. If revenue has fallen so dramatically in the last 5 years will SHP be able to arrest and turn around the decline?

The company overall certainly looks cheap and if the cash flow situation continues on an improved trajectory things look very promising.