Value Added Statement
Value Added Statement
The Value added statement depicts the economic benefit created by the Group and how that is distributed among the various stakeholders, comprising employees, shareholders, banks, government, creditors and the economic value retained in the business.
| 2019 | 2018 | |||
| £’m | % | £’m | % | |
| VALUE CREATED | ||||
| Revenue | 2 932 | 2 876 | ||
| Cost of materials and services | (1 222) | (1 028) | ||
| Finance income | 9 | 9 | ||
| Share of net profit of equity accounted investments | 3 | 3 | ||
| 1 722 | 100.0 | 1 860 | 100.0 | |
| DISTRIBUTION OF VALUE | ||||
| To employees as remuneration and other benefits | 1 233 | 71.7 | 1 293 | 69.5 |
| Tax and other state and local authority levies (excluding VAT) | 68 | 3.9 | 75 | 4.0 |
| To suppliers of capital | ||||
| Non-controlling interests | 21 | 1.2 | 18 | 1.0 |
| Finance cost on borrowed funds | 66 | 3.8 | 94 | 5.1 |
| Distribution to shareholders | 59 | 3.4 | 58 | 3.1 |
| 1 447 | 84.0 | 1 538 | 82.7 | |
| VALUE RETAINED | ||||
| To maintain and replace assets | 136 | 7.9 | 159 | 8.5 |
| Income retained for future growth | 139 | 8.1 | 163 | 8.8 |
| 275 | 16.0 | 322 | 17.3 |
Distribution of Value
