The financial summary (unaudited) set out below has been derived from the audited consolidated financial statements of United Utilities Group PLC for the five years ended 31 March 2019. It should be read in conjunction with the consolidated financial statements and related notes, together with the strategic report.

Year ended 31 March
Continuing operations
Operating profit per reported results634.9636.4605.5567.9653.3
Underlying operating profit684.8645.1622.9604.1664.3
Profit before tax per reported results436.2432.1442.4353.5341.6
Underlying profit before tax460.3370.2389.4408.1447.4
Profit after taxation per reported results363.4354.6433.9397.5271.2
Underlying profit after tax378.7304.9313.4325.3354.1
Earnings per share (basic) per reported results (pence)53.3p52.0p63.6p58.3p39.8p
Underlying earnings per share (pence)55.5p44.7p46.0p47.7p51.9p
Dividend per ordinary share (pence)41.28p39.73p38.87p38.45p37.70p
Non-current assets12,466.411,853.611,768.211,280.810,664.8
Current assets721.41,149.9657.9626.0638.8
Total assets13,187.813,003.512,426.111,906.811,303.6
Non-current liabilities(9,025.0)(8,911.1)(8,914.7)(8,357.1)(7,867.7)
Current liabilities(1,052.0)(1,141.5)(689.8)(844.2)(1,001.5)
Total liabilities(10,077.0)(10,052.6)(9,604.5)(9,201.3)(8,869.2)
Total net assets and shareholders' equity3,110.82,950.92,821.62,705.52,434.4
Net cash generated from operating activities832.3815.6820.8685.6706.5
Net cash used in investing activities(627.7)(723.2)(804.6)(676.8)(704.9)
Net cash (used in)/generated from financing activities(377.4)184.722.0(46.4)139.2
Net (decrease)/increase in cash and cash equivalents(172.8)277.138.2(37.6)140.8
Net debt7,067.36,867.86,578.76,260.55,924.0
RCV gearing(1) (%)61%61%61%61%59%


  1. Regulatory capital value (RCV) gearing is calculated as group net debt (see note A2), divided by the RCV expressed in out-turn prices, of United Utilities Water Limited.