The five whose pay packet rose faster than their firm’s profit
David Sutherland, the executive chairman and biggest shareholder of the former Alfred McAlpine subsidiary, is thought to be the recipient of a bumper £4.5m pay packet. £4.2m of this was paid in the form of a bonus, understood to be awarded for the £31m sale of Tulloch’s construction arm to ROK last year.
The best paid director is almost certainly Keith Miller, the chief executive. At the helm of the housebuilder-contractor since 1994, he has delivered record profits for 13 consecutive years. Last year, turnover leapt by a third to more than £1.2bn. The company is in the top 10 housebuilders and has a £342m construction division.
The pay is probably that of Brian Pettifer, chief executive and chairman. The Warwickshire-based group has gone through a turnaround after a fall in turnover in 2005, attributed to problems in the construction division. Staff are paid an average of £43,300, £400 less than the previous year.
Duncan Ogilvie, chief executive of the Stirling-based construction group, is the likely recipient of this pay packet. The group more than doubled its turnover to £177m in five years, and profit increased 10% in the 12 months to June 2006. This has led to the firm achieving the construction industry’s 15th best margin at 4.8%.
Chairman Dennis Cope or managing director Stephen Casey are likely to have got the dough. They led a management buyout in 2001, having floated the company only three years earlier. Turnover fell £72m to £239m last year, but they still managed to increase profit. Fairview made margins of 14.3%, within the housebuilders’ top 30.