Our financial record includes the summarised consolidated income statement, key performance indicators, net debt and summarised consolidated balance sheet.

Summarised consolidated income statement

  2016
£m
2015
£m
2014
£m
2013
£m
2012
£m
Revenue
Funeral services 217.8 212.6 184.4 176.2 157.9
Crematoria 67.5 63.1 55.2 53.8 46.6
Pre–arranged funeral plans 28.3 29.6 29.3 26.7 25.1
  313.6 305.3 268.9 256.7 229.6
Underlying operating profit
Funeral services 79.0 76.8 66.3 60.8 54.2
Crematoria 37.6 34.6 29.1 27.4 23.3
Pre–arranged funeral plans 8.5 7.8 7.4 6.7 6.5
Central overheads (23.4) (20.5) (17.9) (16.5) (14.6)
  101.7 98.7 84.9 78.4 69.4
Underlying finance costs (26.9) (27.0) (30.6) (28.9) (25.8)
Finance income 0.4 0.5 4.2 3.4 2.5
 
Underlying profit before tax 75.2 72.2 58.5 52.9 46.1
Taxation (15.8) (15.5) (13.1) (12.9) (11.7)
Underlying profit after tax 59.4 56.7 45.4 40.0 34.4
Underlying earnings per share (pence) 119.8p 114.8p 85.8p 72.1p 62.8p
Operating profit 97.7 95.5 82.9 75.1 68.7
Profit/(loss) after tax 57.2 56.9 (55.0) 40.4 35.7
Basic earnings per share (pence) 115.3p 115.2p (104.0p) 72.8p 65.1p

Key performance indicators

  2016 2015 2014 2013 2012
Total estimated number of deaths in Britain (number) 590,000 588,000 550,000 560,000 551,000
Number of funerals performed (number) 70,700 73,500 65,600 68,000 63,200
Funeral market share** (per cent) 11.8%
12.3% 11.7% 11.9% 11.2%
Number of cremations performed (number) 59,500 57,700 53,400 55,500 50,500
Crematoria market share (per cent) 10.1% 9.8% 9.7% 9.9% 9.2%
Active pre-arranged funeral plans (number) 404,000 374,000 348,000 323,000 290,000
Cash generated from operations (£million) 121.1 125.2 104.4 94.2 83.3

Net debt

  2016
£m
2015
£m
2014
£m
2013
£m
2012
£m
Net amounts owing on Secured Notes per financial statements (573.9) (586.5) (594.6) (403.0) (318.9)
Add: unamortised issue costs - Secured Notes (0.7) (0.7) (0.7) (16.3) (14.6)
Gross amounts owing on Secured Notes per financial statements (574.6) (587.2) (595.3) (419.3) (333.5)
Net amounts owing on Crematoria Acquisition Facility per financial statements (15.7) (15.7) (15.6) (15.6) (10.0)
Add: unamortised issue costs on Crematoria Acquisition Facility (0.1) (0.1) (0.2) (0.2) -
Gross amounts owing (590.4) (603.0) (611.1) (435.1) (343.5)
Accrued interest on Secured Notes (0.3) (12.8) (5.7) (14.3) (11.6)
Accrued interest on Crematoria Acquisition Facility (0.1) (0.1) - - (0.1)
Cash and cash equivalents 67.1 98.8 86.5 79.3 55.6
Net debt (523.7) (517.1) (530.3) (370.1) (299.6)

Summarised consolidated balance sheet

  2016
£m
2015
£m
2014
£m
2013
£m
2012
£m
Noncurrent assets
Goodwill and intangible assets 358.1 328.2 276.5 250.4 204.5
Property, plant and equipment 235.4 200.6 192.3 183.6 157.1
Financial and other assets 11.3 10.3 10.4 12.7 12.6
Retirement benefit asset - - - - 0.1
  604.8 539.1 479.2 446.7 374.3
Current assets
Cash and cash equivalents – excluding collateralisation of Liquidity Facility 67.1 98.8 86.5 79.3 55.6
Cash and cash equivalents – collateralisation of Liquidity Facility - - - 63.0 -
Cash and cash equivalents 67.1 98.8 86.5 142.3 55.6
Other current assets 43.1 38.3 36.5 34.4 32.1
  110.2 137.1 123.0 176.7 87.7
Total assets 715.0 676.2 602.2 623.4 462.0
Current liabilities 75.1 82.7 60.6 143.6 76.9
Non-current liabilities 643.4 637.4 634.1 437.6 340.5
Total liabilities 718.5 720.1 694.7 581.2 417.4
Equity attributable to shareholders (3.5) (43.9) (92.5) 42.2 44.6
Total equity and liabilities 715.0 676.2 602.2 623.4 462.0

NOTES

  • * This information has been extracted from the current and previous Annual Reports and accordingly does not constitute audited information.
  • ** Market share excluding funerals performed in Northern Ireland.
  • *** In 2014, the Group refinanced its captial structure. Prior to 17 October 2014, the Group had on various occasions issued Class A Secured Notes due for final repayment in 2023 ('Old Class A Notes') and Class B Secured Notes due for final repayment in 2031 ('Old Class B Notes' and together with the Old Class A Notes, the 'Old Notes'). On 17 October 2014, the Group issued £238,904,000 Class A Secured 3.5456% Notes due 2034 ('New Class A Notes') and £356,402,000 Class B Secured 4.6956% Notes due 2049 ('New Class B Notes' and together with the New Class A Notes, the 'New Notes'). For the purpose of the financial record, the various classes of these notes are referred to as the Secured Notes. Elsewhere in this Annual Report, Secured Notes and associated references refers to the New Notes, as these were the only notes in issue in 2015 and 2016.