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

Summarised consolidated income statement

  2019
£m
2018
restated
£m
2017(c)
£m
2016(d)
£m
2015(d)
£m
Underlying revenue
Funeral services 203.3 214.9 221.8 217.8 212.6
Crematoria 76.8 78.0 74.0 67.5 63.1
Pre–arranged funeral plans 21.2 22.7 28.2 28.3 29.6
  301.3 315.6 324.0 313.6 305.3
Underlying operating profit
Funeral services 56.3 62.2 79.5 79.0 76.8
Crematoria 38.4 40.3 40.0 37.6 34.6
Pre–arranged funeral plans - 2.8 8.0 8.5 7.8
Central overheads (31.4) (25.1) (22.9) (23.4) (20.5)
  63.3 80.2 104.6 101.7 98.7
Underlying finance costs (25.8) (26.0) (26.9) (26.9) (27.0)
Underlying finance income 0.2 0.2 0.1 0.4 0.5
 
Underlying profit before tax 37.7 54.4 77.8 75.2 72.2
Underlying taxation (7.4) (11.5) (13.8) (15.8) (15.5)
Underlying profit after tax 30.3 42.9 64.0 59.4 56.7
Underlying earnings per share (pence) 60.6p 85.8p 128.3p 119.8p 114.8p
Revenue 338.9 353.7 324.0 313.6 305.3
Operating profit 44.8 75.9 98.0 97.7 95.5
Profit/(loss) after tax 34.9 (17.0) 57.8 57.2 56.9
Basic earnings/(loss) per share (pence) 69.8p (34.0)p 115.8p 115.3p 115.2p

Key performance indicators

  2019 2018 2017 2016 2015
Total estimated number of deaths in Britain (number) 584,000 599,000 590,000 590,000 588,000
Number of funerals performed (number) 69,400 72,300 68,800 70,700 73,500
Funeral market share(b) (per cent) 11.7%
11.9% 11.5% 11.8% 12.3%
Number of cremations performed (number) 64,800 65,200 63,400 59,500 57,700
Crematoria market share (per cent) 11.1% 10.9% 10.7% 10.1% 9.8%
Active pre-arranged funeral plans (number) 523,000 486,000 450,000 404,000 374,000
Underlying cash generated from operations (£million) 71.8 101.9 115.4 121.1 125.2

Net debt

  2019
£m
2018
£m
2017
£m
2016
£m
2015
£m
Net amounts owing on Secured Notes per financial statements (551.3) (560.6) (565.1) (573.9) (586.5)
Add: unamortised issue costs (0.6) (0.6) (0.6) (0.7) (0.7)
Gross amounts owing (551.9) (561.2) (565.7) (574.6) (587.2)
Net amounts owing on Crematoria Acquisition Facility per financial statements - - - (15.7) (15.7)
Add: unamortised issue costs on Crematoria Acquisition Facility - - - (0.1) (0.1)
Gross amounts owing (551.9) (561.2) (565.7) (574.6) (587.2)
Accrued interest on Secured Notes (12.2) (12.3) (0.3) (0.3) (12.8)
Accrued interest on Crematoria Acquisition Facility and Revolving Credit Facility - (0.2) (0.2) (0.1) (0.1)
Cash and cash equivalents - Trading Group 57.9 66.9 49.3 67.1 98.8
Net debt (506.2) (506.8) (516.9) (523.7) (517.1)

Summarised consolidated balance sheet

  2019
£m
2018
restated
£m
2017
restated
£m
2016(d)
£m
2015(d)
£m
Non-current assets
Goodwill and intangible assets 373.1 384.9 385.5 358.1 328.2
Property, plant and equipment 251.3 254.1 248.0 235.4 200.6
Investment in associated undertakings - 6.0 - - -
Financial and other assets 18.2 15.7 14.3 11.3 10.3
Financial assets – held by the Trusts 947.5 862.4 865.6 - -
Deferred commissions 96.8 94.5 92.4 - -
Deferred tax asset 14.0 17.9 6.8 - -
  1,700.9 1,635.5 1,612.6 604.8 539.1
Current assets
Cash and cash equivalents – Trading Group 57.9 66.9 49.3 67.1 98.8
Cash and cash equivalents – held by the Trusts 15.5 13.8 21.8 - -
Cash and cash equivalents 73.4 80.7 71.1 67.1 98.8
Other current assets 47.6 46.9 49.6 43.1 38.3
  121.0 127.6 120.7 110.2 137.1
Total assets 1,821.9 1,763.1 1,733.3 715.0 676.2
Current liabilities
Financial liabilities 9.6 9.3 4.5 8.8 8.3
Contract liabilities 95.5 91.5 88.3 - -
Other current liabilities 65.3 73.0 62.8 66.3 74.4
  170.4 173.8 155.6 75.1 82.7
Non-current liabilities
Financial liabilities 542.3 551.9 561.2 581.5 594.6
Contract liabilities 1,209.1 1,164.6 1,117.3 - -
Other non-current liabilities 37.3 36.7 34.2 61.9 42.8
  1,788.7 1,753.2 1,712.7 643.4 637.4
Total liabilities 1,959.1 1,927.0 1,868.3 718.5 720.1
Total deficit (137.2) (163.9) (135.0) (3.5) (43.9)
Total deficit and liabilities 1,821.9 1,763.1 1,733.3 715.0 676.2

NOTES

  • (a) This information has been extracted from the current and previous Annual Reports and accordingly does not constitute audited information.
  • (b) Market share excluding funerals performed in Northern Ireland.
  • (c) 2017 income statement has not been restated for the impact of IFRS 15 or the change in accounting policy in respect of the Trusts.
  • (d) 2015 and 2016 have not been restated for the impact of IFRS 15 or the change in accounting policy in respect of the Trusts.