Pay at DCC rises by €500k

TOTAL remuneration outlay at support services group DCC increased by €500,000 in its last financial year, according to the company’s latest annual report.

The total pay-out for executive and non-executive directors went from €3.37 million in 2009 to €3.87m in 2010 or the 12 months to the end of last March. Executive director remuneration, alone, went from €2.77m to over €3.18m. DCC reported a good set of full-year results last month, showing a 27% increase in pre-tax profits – mainly driven by a strong performance from its energy division. That division’s managing director, Donal Murphy, saw his basic salary shoot up from €100,000 to €316,000 in the last year.

A hefty bonus of €274,000 (compared with €180,000 in the previous year), along with pension contributions and additional benefits, boosted his overall remuneration package by €400,000 to €720,000. Group chief executive Tommy Breen’s basic salary increased from €677,000 to €700,000.

However, Mr Breen’s total package jumped by €140,000 to €1.67m when bonuses were taken into account. Chief financial officer Fergal O’Dwyer’s total package went from €756,000 to €792,000 – even though his basic salary was unchanged at €365,000.

The group’s annual report stated “during the... the current financial year, the remuneration committee will examine what specific adjustments should be made to the existing bonus scheme for implementation in 2011”. Non-executive chairman Michael Buckley meanwhile, was paid €225,000 last year – €24,000 more than the previous year.

Earlier this week, DCC sold the mobility & rehab arm of its healthcare division for €37m to US firm Patterson Medical.