FINANCIAL HIGHLIGHTS: FOUR YEAR SUMMARY
2017
2016
2015 * 2014 **
£m
£m
£m
£m
Statement of Comprehensive Income
Turnover
113.845
120.137
113.155
100.688
Operating Surplus
23.463
23.245
18.314
15.871
Interest Payable & Similar Charges
15.727
16.675
14.397
12.635
Surplus for the financial year
8.770
7.170
39.160*
3.635
Statement of Financial Position
Housing Assets at Cost
877.582
842.785
823.870
677.958
Social Housing and other Capital Grants
283.961
280.526
277.168
257.059
Net Investment in New Housing During Year
28.619
10.764
63.418
21.134
Net Current Liabilities
(9.208)
(7.180)
(8.303)
(2.199)
Total Assets Less Current Liabilities
824.814
800.216
789.904
418.431
Loans Outstanding
414.071
400.286
396.172
339.808
Reserves
136.781
128.296
121.136
84.660
Corporate Performance
Surplus before Interest as a Percentage of Turnover
20.6%
19.5%
16.4%
16.1%
Surplus before Interest as a Percentage of Rents
34.7%
33.9%
33.0%
29.5%
Interest Cover
190.7%
172.2%
159.8%
166.6%
Gearing
46.7%
47.1%
47.7%
49.6%
EBITDA (£m)
34.938
34.430
27.545
23.544
EBITDA as a Percentage of Turnover
30.7%
28.7%
24.3%
23.4%
Average cost of finance
4.02%
4.28%
4.11%
4.01%
CEO pay as a percentage of turnover
0.2%
0.2%
0.2%
0.2%
CEO pay per employee
£70
£64
£60
£54
* 2015 data includes a surplus of £4.201 million (restated) plus £34.959 million net gain on business combination identified in the acquisition accounting associated
with Heantun Housing Association and its subsidiaries joining the Group in July 2014
** Stated under UK GAAP. Figures from 2015 onwards are stated under FRS 102.
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Accord Housing Association