Muir Group director ‘earns more than £1m’
The highest paid director at building firm Muir Group got a pay package worth more than £1 million in its most recent financial year, The Herald has reported.
The Fife company, controlled by chairman and founder John Muir, enjoyed a bumper year with profits more than trebling from £3.95m to £13.2m in the 12 months to February 1.
Accounts recently filed at Companies House show total directors’ remuneration more than trebled from £1m to £3.28m.
The financial report shows the highest paid director received almost £1.07m, a substantial increase from the £244,000 recorded in the prior year.
The accounts also note an interim dividend of £500,000 was paid during the most recent year, up from £350,000.
The overall staff costs at Muir Group, which has its headquarters in Inverkeithing, increased from £11.1m to £14.9m.
The business had previously outlined a large increase in turnover from £75m to £115m helped by property disposals in Aberdeen. Its property development and house building arms both delivered strong uplifts in profit during the year while its timber systems division also returned to the black.
The leisure business, which trades as Deer Park Golf & Country Club in Livingston, saw its losses widen slightly from £224,000 to £221,000.