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

Summarised consolidated income statement

  2017
£m
2016
£m
2015
£m
2014
£m
2013
£m
Revenue
Funeral services 221.8 217.8 212.6 184.4 176.2
Crematoria 74.0 67.5 63.1 55.2 53.8
Pre–arranged funeral plans 28.2 28.3 29.6 29.3 26.7
  324.0 313.6 305.3 268.9 256.7
Underlying operating profit
Funeral services 79.5 79.0 76.8 66.3 60.8
Crematoria 40.0 37.6 34.6 29.1 27.4
Pre–arranged funeral plans 8.0 8.5 7.8 7.4 6.7
Central overheads (22.9) (23.4) (20.5) (17.9) (16.5)
  104.6 101.7 98.7 84.9 78.4
Underlying finance costs (26.9) (26.9) (27.0) (30.6) (28.9)
Finance income 0.1 0.4 0.5 4.2 3.4
 
Underlying profit before tax 77.8 75.2 72.2 58.5 52.9
Taxation (13.8) (15.8) (15.5) (13.1) (12.9)
Underlying profit after tax 64.0 59.4 56.7 45.4 40.0
Underlying earnings per share (pence) 128.3p 119.8p 114.8p 85.8p 72.1p
Operating profit 98.0 97.7 95.5 82.9 75.1
Profit/(loss) after tax 57.8 57.2 56.9 (55.0) 40.4
Basic earnings per share (pence) 115.8p 115.3p 115.2p (104.0p) 72.8p

Key performance indicators

  2017 2016 2015 2014 2013
Total estimated number of deaths in Britain (number) 590,000 590,000 588,000 550,000 560,000
Number of funerals performed (number) 68,800 70,700 73,500 65,600 68,000
Funeral market share** (per cent) 11.5%
11.8% 12.3% 11.7% 11.9%
Number of cremations performed (number) 63,400 59,500 57,700 53,400 55,500
Crematoria market share (per cent) 10.7% 10.1% 9.8% 9.7% 9.9%
Active pre-arranged funeral plans (number) 450,000 404,000 374,000 348,000 323,000
Cash generated from operations (£million) 115.4 121.1 125.2 104.4 94.2

Net debt

  2017
£m
2016
£m
2015
£m
2014
£m
2013
£m
Net amounts owing on Secured Notes per financial statements (565.1) (573.9) (586.5) (594.6) (403.0)
Add: unamortised issue costs - Secured Notes (0.6) (0.7) (0.7) (0.7) (16.3)
Gross amounts owing on Secured Notes per financial statements (565.7) (574.6) (587.2) (595.3) (419.3)
Net amounts owing on Crematoria Acquisition Facility per financial statements - (15.7) (15.7) (15.6) (15.6)
Add: unamortised issue costs on Crematoria Acquisition Facility - (0.1) (0.1) (0.2) (0.2)
Gross amounts owing (565.7) (590.4) (603.0) (611.1) (435.1)
Accrued interest on Secured Notes (0.3) (0.3) (12.8) (5.7) (14.3)
Accrued interest on Crematoria Acquisition Facility and Revolving Credit Facility (0.2) (0.1) (0.1) - -
Cash and cash equivalents 49.3 67.1 98.8 86.5 79.3
Net debt (516.9) (523.7) (517.1) (530.5) (370.1)

Summarised consolidated balance sheet

  2017
£m
2016
£m
2015
£m
2014
£m
2013
£m
Non-current assets
Goodwill and intangible assets 385.5 358.1 328.2 276.5 250.4
Property, plant and equipment 248.0 235.4 200.6 192.3 183.6
Financial and other assets 14.3 11.3 10.3 10.4 12.7
  647.8 604.8 539.1 479.2 446.7
Current assets
Cash and cash equivalents – excluding collateralisation of Liquidity Facility 49.3 67.1 98.8 86.5 79.3
Cash and cash equivalents – collateralisation of Liquidity Facility - - - - 63.0
Cash and cash equivalents 49.3 67.1 98.8 86.5 142.3
Other current assets 45.6 43.1 38.3 36.5 34.4
  94.9 110.2 137.1 123.0 176.7
Total assets 742.7 715.0 676.2 602.2 623.4
Current liabilities 70.0 75.1 82.7 60.6 143.6
Non-current liabilities 626.3 643.4 637.4 634.1 437.6
Total liabilities 696.3 718.5 720.1 694.7 581.2
Equity attributable to shareholders 46.4 (3.5) (43.5) (92.5) 42.2
Total equity and liabilities 742.7 715.0 676.2 602.2 623.4

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 and 2017.