interpretation of ratios (Subsidiary acquired)

Sir in kaplan studytext there is a question with the name of pure group The Pure group operates in the farming industry and has operated a number of 100% owned subsidiaries for many years. Its financial statements for the last two years are shown below. Consolidated statements of profit or loss for the year ended 30 September 20x3 20x2 Rev 94000 68500 Cos (46000) (28000) GP 48000 40500 Dist cost 21200 19300 Admin exp 25600 15400 PBIT 1200 5800 Investment income 0 600 FC (120) 0 PBT 1080 6400 Tax exp (300) (1920) PAT 780 4480 Consolidated SOFP as at 30 sept 20x3 20x2 Current Assets Inventories 6500 4570 Trade receivables 17000 15600 Bank 610 6000 Equity Share capital 25000 6000 Retained earnings 73500 72500 Non-controlling interest 510 0 Non-current liabilities Loan 20000 0 Pure acquired 80% of Howard on 1 October 20X2. This was the first time Pure had acquired a subsidiary without owning 100%. Howard operates two luxury hotels, and Pure acquired Howard with a view to diversification and to provide a longterm solution to the cash flow concerns. The following ratios have been calculated for the year ended 30 September 20X2: Gross profit margin 59.1% Operating margin 8.5% Return on capital employed 7.4% Inventory turnover period 60 days Receivables collection period 83 days Reqd: a) For the ratios provided above, prepare the equivalent figures for the year ended 30 September 20X3. b) Analyse the performance and cash flow of Pure for the year ended 30 September 20X3, Now 1-2 things I want to ask related to these question that, 1) When analyzing performance (i,.e writing commentary) for Y/E 30 September 20X3, as we know that subsidiary howard was acquired on 1 oct 20x2, and F/s provided for year ended 30 sept 20x2 does not include results of subsidiary acquired howard , however, F/s provided for year ended 30 sept 20x3 doe include results of subsidiary acquired howard. Now my question is that when writing commentary we would compare ratios of Y/E 30 sept 20x2 with Y/E 30 sept 20x3, but ratios of Y/E 30 sept 20x2 does not include results of howard , whereas, ratios of Y/E 30 sept 20x3 does include results of howard , so would comparing straightaway these 2 years ratios would be fine or do we also have to make adjustment in ratio of Y/E 30 sept 20x3 (i.e exclude results of howard) and compare that with ratios of Y/E 30 sept 20x2 also?