Annual Report 2016
Notes to the Financial Statements
2
Segmental Information
Turnover
2016
£’000
2015
£’000
South Staffs Water 123,876 126,930
Inter-divisional — (1,042)
South Staffs Water (external)
123,876
125,888
Non-regulated service businesses
141,787
136,547
Inter-divisional (30,759) (23,517)
Non-regulated service businesses (external)
111,028
113,030
Group turnover 234,904 238,918
Operating Profit
2016 2015
(as restated)
£’000
£’000
South Staffs Water (before exceptional operating item)
37,062
34,186
Exceptional operating item - pension curtailment gain
3,581
—
South Staffs Water 40,643 34,186
Non-regulated service businesses
10,393
10,067
Total operating profit
51,036
44,253
The Directors do not consider the turnover and operating profit of acquisitions in the year or the previous year to be material to the Group and as such
these have not been separately disclosed.
Net Operating Assets
2016
2015
(as restated)
£’000
£’000
South Staffs Water 306,058 293,300
Non-regulated service businesses
41,244
41,868
Net operating assets
347,302
335,168
Net debt (book value)
(358,310)
(349,696)
Goodwill 26,541 26,841
Loans receivable from parent undertakings in more than one year
93,740
95,657
Other non-operating net liabilities
(11,811)
(9,877)
Corporation tax payable
(8,398)
(4,765)
Retirement benefit surplus
37,788
26,852
Provisions for liabilities - deferred tax
(41,715)
(45,080)
Net assets 85,137 75,100
The Directors do not consider the turnover, operating profit and net operating assets arising outside of the United Kingdom to be material to the
Group and as such these have not been separately disclosed.
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