| Sales achieved through activities of the company that were being carried on in the same period in the year before the one being studied. In other words, if you are trying to compare the turnover of Company X this year and last year, it makes sense to exclude from the calculation any sales this year which were achieved by bolting on acquisitions. What you want to find out is whether the businesses the company was in last year have grown their sales, and the only way to do that is to compare 'like-for-like'.
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