AGL - Accordant Group. was previously AWF Madison, Allied...

[Snoopy]

What they are doing is working harder to generate more cash (Eg Census contracts), but less smarter to generate less profit.

It is going to get more difficult to disambiguate what is happening at Madiosn and AbsoluteIT in the future. For financial reporting purposes they have both been combined under the 'Temporary Contract and Permanent Staff to Commerce' reporting segment. Yet from Section G1 in AR2017 we can get a feel for AbsoluteIT's revenue and profit numbers, over FY2017 at least:

	Revenue	Net Profit	Net Profit Margin
If AbsoluteIT had been part of AWF Madison for all of FY2017	$301.600m	$7.500m
less Declared AWF Madison Result for all of FY2017	$256.428m	$5.867m
equals AbsoluteIT Result for Apr to Oct 2014 (7 months)	$45.172m	$1.633m
plus AbsoluteIT Result for Nov 2016 to Mar 2017 (5 months)	$27.600m	$0.809m
equals AbsoluteIT Result for FY2017 (12 months)	$72.7m	$2.44m	3.36%

We can do a similar exercise for when Madison was acquired during FY2014, using Section 18 from AR2014.

	Revenue	Net Profit	Net Profit Margin
If Madison had been part of AWF Madison for all of FY2014	$186.300m	$5.200m
less Declared AWF Madison Result for all of FY2014	$148.691m	$3.952m
equals Madison Result for Apr to Oct 2013 (7 months)	$37.609m	$1.248m
plus Madison Result for Nov 2013 to Mar 2014 (5 months)	$23.156m	$1.265m
equals Madison Result for FY2014 (12 months)	$60.8m	$2.51m	4.14%

SNOOPY