united-utilities-annual-report-2015

UNITED UTILITIES GROUP PLC ANNUAL REPORT AND FINANCIAL STATEMENTS 2015Stock Code: UU.unitedutilities.comConsolidated income statementfor the year ended 31 MarchNote2015£mRestated*2014£mContinuing operationsRevenue 1 1,720.2 1,688.8Employee benefits expense:excluding restructuring costs 2 (134.1) (129.3)restructuring costs 2 (11.0) (4.4)Total employee benefits expense 2 (145.1) (133.7)Other operating costs 3 (424.3) (425.6)Other income 3 3.3 2.7Depreciation and amortisation expense 3 (352.6) (336.9)Infrastructure renewals expenditure (148.2) (165.1)Total operating expenses (1,066.9) (1,058.6)Operating profit 653.3 630.2Investment income 4 1.0 6.8Finance expense 5 (317.8) (98.7)Investment income and finance expense (316.8) (91.9)Share of profits of joint ventures 5.1 5.0Profit before taxation 341.6 543.3Current taxation (charge)/credit 6 (47.1) 65.7Deferred taxation charge 6 (23.3) (27.2)Deferred taxation credit – change in taxation rate 6 – 156.8Taxation 6 (70.4) 195.3Profit after taxation from continuing operations 271.2 738.6Discontinued operationsProfit after taxation from discontinued operations 7 – 0.8Profit after taxation 271.2 739.4Earnings per sharefrom continuing and discontinued operationsBasic 8 39.8p 108.4pDiluted 8 39.7p 108.2pEarnings per sharefrom continuing operationsBasic 8 39.8p 108.3pDiluted 8 39.7p 108.1pDividend per ordinary share 9 37.70p 36.04p* The comparatives have been restated to reflect the requirements of IFRS 11 ‘Joint Arrangements’. See accounting policies page 124 for details.118