FINANCIAL HIGHLIGHTS: FOUR YEAR SUMMARY
2018 2017 2016 2015 *
£m
£m
£m
£m
(Restated)
Statement of Comprehensive Income
Turnover
116.077
113.845
120.137
113.155
Operating Surplus
26.814
23.463
23.245
18.314
Interest Payable & Similar Charges
16.127
15.727
16.675
14.397
Surplus for the Financial Year
10.775
8.770
7.170
39.160*
Statement of Financial Position
Housing Assets at Cost
919.790
877.582
842.785
823.870
Social Housing and other Capital Grants
288.012
283.961
280.526
277.168
Net Investment in New Housing During Year
33.993
28.619
10.764
63.418
Net Current Liabilities
(12.658)
(9.208)
(7.180)
(8.303)
Total Assets Less Current Liabilities
854.620
824.814
800.216
789.904
Loans Outstanding
430.334
414.071
400.286
396.172
Reserves
147.529
136.781
128.296
121.136
Corporate Performance
Surplus before Interest a s a Percentage of Turnover
23.2%
20.6%
19.5%
16.4%
Surplus before Interest as a Percentage of Rents
37.2%
34.7%
33.9%
33.0%
Interest Cover
190.5%
190.7%
172.2%
159.8%
Gearing
46.3%
46.7%
47.1%
47.7%
EBITDA (£m)
38.257
34.938
34.430
27.545
EBITDA as a Percentage of Turnover
32.9%
30.7%
28.7%
24.3%
Average cost of finance
3.80%
4.02%
4.28%
4.11%
CEO pay as a percentage of turnover
0.2%
0.2%
0.2%
0.2%
CEO pay per employee
£77
£70
£64
£60
* 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
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Accord Housing Association