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

Summarised consolidated income statement

  2018
£m
2017
£m
2016
£m
2015
£m
2014
£m
Revenue
Funeral services 214.9 221.8 217.8 212.6 284.4
Crematoria 78.0 74.0 67.5 63.1 55.2
Pre–arranged funeral plans 22.7 28.2 28.3 29.6 29.3
  315.6 324.0 313.6 305.3 268.9
Underlying operating profit
Funeral services 62.2 79.5 79.0 76.8 66.3
Crematoria 40.3 40.0 37.6 34.6 29.1
Pre–arranged funeral plans 2.8 8.0 8.5 7.8 7.4
Central overheads (25.1) (22.9) (23.4) (20.5) (17.9)
  80.2 104.6 101.7 98.7 84.9
Underlying finance costs (26.0) (26.9) (26.9) (27.0) (30.6)
Finance income 0.2 0.1 0.4 0.5 4.2
 
Underlying profit before tax 54.4 77.8 75.2 72.2 58.5
Taxation (11.5) (13.8) (15.8) (15.5) (13.1)
Underlying profit after tax 42.9 64.0 59.4 56.7 45.4
Underlying earnings per share (pence) 85.8p 128.3p 119.8p 114.8p 85.8p
Operating profit 66.3 98.0 97.7 95.5 82.9
Profit/(loss) after tax 31.5 57.8 57.2 56.9 (55.0)
Basic earnings/(loss) per share (pence) 63.0p 115.8p 115.3p 115.2p (104.0p)

Key performance indicators

  2018 2017 2016 2015 2014
Total estimated number of deaths in Britain (number) 599,000 590,000 590,000 588,000 550,000
Number of funerals performed (number) 72,300 68,800 70,700 73,500 65,600
Funeral market share** (per cent) 11.9%
11.5% 11.8% 12.3% 11.7%
Number of cremations performed (number) 65,200 63,400 59,500 57,700 53,400
Crematoria market share (per cent) 10.9% 10.7% 10.1% 9.8% 9.7%
Active pre-arranged funeral plans (number) 486,000 450,000 404,000 374,000 348,000
Underlying cash generated from operations (£million) 101.9 115.4 121.1 125.2 104.4

Net debt

  2018
£m
2017
£m
2016
£m
2015
£m
2014
£m
Net amounts owing on Secured Notes per financial statements (560.6) (565.1) (573.9) (586.5) (594.6)
Add: unamortised issue costs on Secured Notes (0.6) (0.6) (0.7) (0.7) (0.7)
Gross amounts owing on Secured Notes per financial statements (561.2) (565.7) (574.6) (587.2) (595.3)
Net amounts owing on Crematoria Acquisition Facility per financial statements - - (15.7) (15.7) (15.6)
Add: unamortised issue costs on Crematoria Acquisition Facility - - (0.1) (0.1) (0.2)
Gross amounts owing (561.2) (565.7) (590.4) (603.0) (611.1)
Accrued interest on Secured Notes (12.3) (0.3) (0.3) (12.8) (5.7)
Accrued interest on Crematoria Acquisition Facility and Revolving Credit Facility (0.2) (0.2) (0.1) (0.1) -
Cash and cash equivalents 66.9 49.3 67.1 98.8 86.5
Net debt (506.8) (516.9) (523.7) (517.1) (530.3)

Summarised consolidated balance sheet

  2018
£m
2017
£m
2016
£m
2015
£m
2014
£m
Non-current assets
Goodwill and intangible assets 384.9 385.5 358.1 328.2 276.5
Property, plant and equipment 254.1 248.0 235.4 200.6 192.3
Investment in associated undertakings 6.0 - - - -
Financial and other assets 15.7 14.3 11.3 10.3 10.4
  660.7 647.8 604.8 539.1 479.2
Current assets
Cash and cash equivalents 66.9 49.3 67.1 98.8 86.5
Other current assets 41.4 45.6 43.1 38.3 36.5
  108.3 94.9 110.2 137.1 123.0
Total assets 769.0 742.7 715.0 676.2 602.2
Current liabilities 84.7 70.0 75.1 82.7 60.6
Non-current liabilities 618.3 626.3 643.4 637.4 634.1
Total liabilities 703.0 696.3 718.5 720.1 694.7
Equity attributable to shareholders 66.0 46.4 (3.5) (43.9) (92.5)
Total equity and liabilities 769.0 742.7 715.0 676.2 602.2

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, 2016, 2017 and 2018.