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 2020. 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
Reported operating profit630.3634.9636.4605.5567.9
Underlying operating profit743.9684.8645.1622.9604.1
Reported profit before tax303.2436.2432.1442.4353.5
Underlying profit before tax492.0460.3370.2389.4408.1
Reported profit after taxation106.8363.4354.6433.9397.5
Underlying profit after tax429.6407.9304.9313.4325.3
Reported earnings per share (basic)15.7p53.3p52.0p63.6p58.3p
Underlying earnings per share63.0p59.8p44.7p46.0p47.7p
Dividend per ordinary share42.6p41.28p39.73p38.87p38.45p
Non-current assets13,215.712,466.411,853.611,768.211,280.8
Current assets828.4721.41,149.9657.9626.0
Total assets14,044.113,187.813,003.512,426.111,906.8
Non-current liabilities(9,877.3)(9,025.0)(8,911.1)(8,914.7)(8,357.1)
Current liabilities(1,204.7)(1,052.0)(1,141.5)(689.8)(844.2)
Total liabilities(11,082.0)(10,077.0)(10,052.6)(9,604.5)(9,201.3)
Total net assets and shareholders' equity2,962.13,110.82,950.92,821.62,705.5
Net cash generated from operating activities810.3832.3815.6820.8685.6
Net cash used in investing activities(593.9)(627.7)(723.2)(804.6)(676.8)
Net cash (used in)/generated from financing activities(27.8)(377.4)184.722.0(46.4)
Net (decrease)/increase in cash and cash equivalents188.6(172.8)277.138.2(37.6)
Net debt7,361.47,067.36,867.86,578.76,260.5
RCV gearing(1) (%)62%61%61%61%61%


  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.