Financial highlights for the year ended 27 December 2019.

Financial highlights 2019 2018 Decrease
per cent
 
Underlying revenue (£million) 301.3 315.6 5
Underlying operating profit (£million) 63.3 80.2 21
Underlying profit before tax (£million) 37.7 54.4 31
Underlying earnings per share (pence) 60.6 85.8 29
Underlying cash generated from operations (£million) 71.8 101.9 30
Revenue (£million) 338.9 353.7 4
Operating profit (£million) 44.8 75.9 41
Profit/(loss) before tax (£million) 44.1 (18.0)  
Basic earnings/(loss) per share (pence) 69.8 (34.0)  
Cash generated from operations (£million) 64.6 104.2 38
Interim dividend paid in the period (pence) - 8.64  
Final dividend proposed in respect of the period (pence) - 15.74  
Number of Deaths 584,000 599,000 3

Prior year adjustments

The Group has changed its accounting policy in respect of certain pre-arranged funeral plan trusts and the adoption of IFRS 15. This has been applied retrospectively and therefore certain statutory amounts have been restated.

Alternative performance measures (APMs)

The Board believes that whilst statutory reporting measures provide financial performance of the Group under GAAP, APMs are necessary to enable users of the financial statements to fully understand the trading performance and financial position of the business. The APMs provided are aligned with those used in the day-to-day management of the business and allow for greater comparability across periods. For this reason, the APMs provided exclude the impact of consolidating the Trusts and the changes which relate to the adoption of IFRS 15, both of which are considered to mask the underlying trading performance of the Group, as well as non-underlying items comprising certain non-recurring and non-trading transactions