MENU Go to Search GROUP CHAIR AND GROUP CHIEF EXECUTIVE’S STATEMENT GROUP FINANCE DIRECTOR’S REVIEW ENVIRONMENT, SOCIAL AND GOVERNANCE OUR GROWTH WHO WE ARE AND WHAT WE DO AWARDS, ACCREDITATIONS, CORPORATE MEMBERSHIPS AND COMMITMENTS INVESTOR CONTACTS CAREERS SUPPLIERS NEWS CONTACT US ENQUIRY FORM Financial performance Home Investor relations Financial performance Please see a selection of tables below showcasing our financial performance. These tables can all also be found in our Sanctuary Group Annual Report and Financial Statements 2020/2021 (PDF 3.6MB) Statement of Comprehensive Income for the Year Ended 31 March 2021 Group 2021 (£m) Group 2020 (£m) Association 2021 (£m) Association 2020 (£m) Income Statement Continuing operations Revenue 765.4 763.0 437.0 454.1 Cost of sales (30.0) (30.1) (1.2) (7.9) Operating expenditure (572.6) (557.3) (327.2) (335.9) Other gains and losses 5.2 6.2 4.3 5.8 Other income - - 5.5 19.8 Share of profit of joint ventures 2.1 4.4 - - Operating surplus 170.1 186.2 118.4 135.9 Net gain from acquisitions 4.5 - - - Finance income 2.9 3.6 6.4 7.2 Finance costs (130.6) (137.4) (91.0) (100.7) Surplus before tax 46.9 52.4 33.8 42.4 Taxation (0.2) 0.8 - - Surplus for the year from continuing operations 46.7 53.2 33.8 42.4 OTHER COMPREHENSIVE INCOME Items that will not be reclassified subsequently to income or expense: Remeasurement of defined benefit pension scheme liability (45.0) 14.8 (46.8) 16.0 Equity investments at fair value through other comprehensive income – net change in value (0.1) (0.5) (0.1) (0.5) Items that may be reclassified subsequently to income or expense: Cash flow hedges – changes in fair value (13.0) 16.3 (13.0) 16.3 Cost of hedging reserve – changes in fair value (1.7) (0.1) (1.7) (0.1) Other comprehensive income for the year (59.8) 30.5 (61.6) 31.7 TOTAL COMPREHENSIVE INCOME FOR THE YEAR (13.1) 83.7 (27.8) 74.1 There were no discontinued operations in either the current or previous financial years. Statement of Financial Position as at 31 March 2021 Group 31 March 2021 (£m) Group 31 March 2020 (£m) Association 31 March 2021 (£m) Association 31 March 2020 (£m) ASSETS Non-current assets: Intangible assets 57.7 62.0 51.7 56.0 Property, plant and equipment 3,664.5 3,559.0 2,537.3 2,527.5 Investment property 247.7 260.3 151.2 148.8 Deferred tax assets 4.9 5.1 - - Derivative financial assets 20.6 41.5 20.6 41.5 Investments in subsidiaries - - 87.7 87.9 Equity accounted investments 2.2 4.4 - - Other investments 24.4 24.3 24.3 24.1 Trade and other receivables 42.0 45.5 137.5 64.9 4,064.0 4,002.1 3,010.3 2,950.7 Current assets: Trade and other receivables 91.9 83.2 107.2 177.4 Contract assets - 0.3 - 0.3 Inventory 164.7 112.3 0.6 18.8 Assets classified as held for sale 1.8 0.2 0.2 0.2 Cash and cash equivalents 494.7 261.5 5.1 1.9 753.1 457.5 113.1 198.6 TOTAL ASSETS 4,817.1 4,459.6 3,123.4 3,149.3 LIABILITIES Current liabilities: Trade and other payables 195.1 155.4 90.9 77.7 Contract liabilities 43.5 30.8 23.1 19.7 Current tax liabilities - 0.4 - 0.2 Loans and borrowings 336.2 47.9 29.1 40.3 Provisions 10.9 4.8 4.6 2.4 585.7 239.3 147.7 140.3 Non-current liabilities: Trade and other payables 4.4 7.3 3.8 5.3 Loans and borrowings 3,041.1 3,057.8 1,740.5 1,789.3 Deferred tax liabilities 0.6 0.6 - - Derivative financial liabilities 2.8 3.5 - - Retirement benefit obligations 69.1 25.9 68.6 23.8 Provisions 5.1 3.8 - - 3,123.1 3,098.9 1,812.9 1,818.4 TOTAL LIABILITIES 3,708.8 3,338.2 1,960.6 1,958.7 EQUITY Equity attributable to owners of the parent: Ordinary shares - - - Cash flow hedge reserve 4.7 17.7 4.6 17.6 Cost of hedging reserve (0.7) 1.0 (0.7) 1.0 Revaluation reserve (0.1) 0.1 (0.1) 0.1 Restricted reserves 4.8 2.2 4.6 2.2 Retained earnings 1,099.6 1,100.4 1,154.4 1,169.7 TOTAL EQUITY 1,108.3 1,121.4 1,162.8 1,190.6 TOTAL EQUITY AND LIABILITIES 4,817.1 4,459.6 3,123.4 3,149.3 Statement of Changes in Equity for the Year Ended 31 March 2021 Group Share capital (£m) Revenue reserve (£m) Restricted reserves (£m) Revaluation reserve (£m) Cash flow hedge reserve (£m) Cost of hedging reserve (£m) Total equity (£m) At 1 April 2019 - 1,033.8 0.2 1.2 1.4 1.1 1,037.7 Surplus for the year - 53.2 - - - - 53.2 Other comprehensive income - 14.8 - (0.5) 16.3 (0.1) 30.5 Total comprehensive income - 68.0 - (0.5) 16.3 (0.1) 83.7 Transfer of VRTB proceeds - (2.0) 2.0 - - - - Transfer of gain on disposal of equity investments - 0.6 - (0.6) - - - Total transfers - (1.4) 2.0 (0.6) - - - At 31 March 2020 - 1,100.4 2.2 0.1 17.7 1.0 1,121.4 At 1 April 2020 - 1,100.4 2.2 0.1 17.7 1.0 1,121.4 Surplus for the year - 46.7 - - - - 46.7 Other comprehensive income - (45.0) - (0.1) (13.0) (1.7) (59.8) Total comprehensive income - 1.7 - (0.1) (13.0) (1.7) (13.1) Transfer of VRTB proceeds - (2.6) 2.6 - - - - Transfer of gain on disposal of equity investments - 0.1 - (0.1) - - - Total transfers - (2.5) 2.6 (0.1) - - - At 31 March 2021 - 1,099.6 4.8 (0.1) 4.7 (0.7) 1,108.3 Association Share capital (£m) Revenue reserve (£m) Restricted reserves (£m) Revaluation reserve (£m) Cash flow hedge reserve (£m) Cost of hedging reserve (£m) Total equity (£m) At 1 April 2019 - 1,112.7 0.2 1.2 1.3 1.1 1,116.5 Surplus for the year - 42.4 - - - - 42.4 Other comprehensive income - 16.0 - (0.5) 16.3 (0.1) 31.7 Total comprehensive income - 58.4 - (0.5) 16.3 (0.1) 74.1 Transfer of VRTB proceeds - (2.0) 2.0 - - - - Transfer of gain on disposal of equity investments - 0.6 - (0.6) - - - Total transfers - (1.4) 2.0 (0.6) - - - At 31 March 2020 - 1,169.7 2.2 0.1 17.6 1.0 1,190.6 At 1 April 2020 - 1,169.7 2.2 0.1 17.6 1.0 1,190.6 Surplus for the year - 33.8 - - - - 33.8 Other comprehensive income - (46.8) - (0.1) (13.0) (1.7) (61.6) Total comprehensive income - (13.0) - (0.1) (13.0) (1.7) (27.8) Transfer of VRTB proceeds - (2.4) 2.4 - - - - Transfer of gain on disposal of equity investments - 0.1 - (0.1) - - - Total transfers - (2.3) 2.4 (0.1) - - - At 31 March 2021 - 1,154.4 4.6 (0.1) 4.6 (0.7) 1,162.8 Statement of Cash Flows for the Year Ended 31 March 2021 Group 2021 (£m) Group 2020 (£m) Association 2021 (£m) Association 2020 (£m) CASH FLOWS FROM OPERATING ACTIVITIES Surplus for the year 46.7 53.2 33.8 42.4 Adjustments for: Depreciation, amortisation and impairment 78.6 73.0 57.7 58.3 Surplus on sale of property, plant and equipment (5.0) (6.2) (4.1) (5.8) Surplus on sale of investments (0.2) - 0.2 - Share of profits in joint venture (2.1) (4.4) - - Net gain from acquisitions (4.5) - - - Net finance costs 127.7 133.8 84.6 93.5 Tax expense/(credit) 0.2 (0.8) - - 194.7 195.4 138.0 146.0 Cash generated before working capital movements 241.4 248.6 171.8 188.4 Changes in: Trade and other receivables (3.2) (5.5) 16.3 (18.0) Trade and other payables 31.1 8.1 16.0 1.5 Inventories (52.4) (1.7) 18.2 2.6 Provisions 1.6 (5.3) 0.4 (5.1) (22.9) (4.4) 50.9 (19.0) Cash generated from operating activities 218.5 244.2 222.7 169.4 Interest paid (135.7) (143.7) (85.9) (96.2) Tax paid (0.3) - - - Net cash inflow from operating activities 82.5 100.5 136.8 73.2 CASH FLOWS FROM INVESTING ACTIVITIES Interest received 0.9 1.2 0.7 0.7 Proceeds from sale of property, plant and equipment 11.6 19.7 9.5 16.9 Proceeds from sale of investments 0.8 3.3 0.8 3.3 Acquisition and construction of property, plant and equipment, investment property and software (185.5) (245.8) (72.4) (99.4) Acquisition of subsidiaries and other business combinations, net of cash acquired (note 33) (6.4) (61.0) - (20.3) Acquisition of other investments (0.8) (1.1) (0.9) (1.1) Capital grants received 53.4 36.0 - - Dividends received from joint ventures 4.3 3.2 - - Loans to joint ventures 3.8 (2.5) 3.8 (2.5) Loans to other Group entities - - (20.7) (7.2) Net cash outflow from investing activities (117.9) (247.0) (79.2) (109.6) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from loans and borrowings 642.7 485.0 87.2 193.0 Repayment of borrowings (374.1) (227.1) (141.6) (169.8) Net cash flow from financing activities 268.6 257.9 (54.4) 23.2 Net increase/(decrease) in cash and cash equivalents 233.2 111.4 3.2 (13.2) Cash and cash equivalents 1 April 2020 261.5 150.1 1.9 15.1 Cash and cash equivalents 31 March 2021 494.7 261.5 5.1 1.9 Contrast Default Medium Contrast High Contrast Select Language English Afrikaans Albanian Amharic Arabic Armenian Azerbaijani Basque Belarusian Bengali Bosnian Bulgarian Catalan Cebuano Chichewa Chinese (Simplified) Chinese (Traditional) Corsican Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Frisian Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hmong Hungarian Icelandic Igbo Indonesian Irish Italian Japanese Javanese Kannada Kazakh Khmer Korean Kurdish (Kurmanji) Kyrgyz Lao Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malay Malayalam Maltese Maori Marathi Mongolian Myanmar (Burmese) Nepali Norwegian Pashto Persian Polish Portuguese Punjabi Romanian Russian Samoan Scottish Gaelic Serbian Sesotho Shona Sindhi Sinhala Slovak Slovenian Somali Spanish Sudanese Swahili Swedish Tajik Tamil Telugu Thai Turkish Ukrainian Urdu Uzbek Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Quick links About us Development Careers Investors Contact us Sanctuary Group sites Sanctuary Housing Sanctuary Care Sanctuary Supported Living Sanctuary Retirement Living Sanctuary Students Sanctuary Scotland Sanctuary - 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