Annual Report 2016 | Page 64

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. 62