GRAMPIAN Holdings's chairman and finance director have received big pay rises following a hefty increase in group profits during the year to January 30.
Executive chairman Bill Hughes saw his total remuneration package rise 23% to #296,000. It included basic pay of #173,000 and a bonus of #110,000. Finance director David McGibbon enjoyed a 38% increase in total remuneration to #185,000. He received a basic salary of #114,000, a bonus of #60,000 and sundry other benefits.
The Glasgow based company increased pre-tax profits by 87% to #25.6m in 1997-1998 as it enjoyed a first full-year contribution from Edinburgh Woollen Mills, acquired in October 1996. This has become the group's principal operating subsidiary.
The chain of knitwear shops sits uneasily alongside Grampian's thriving WH Malcolm transport business, which is widely regarded as a ripe candidate for disposal.
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