DCC ups directors’ pay by almost 50%

DCC’s executive directors were rewarded for the group’s strong growth last year, with an almost 50% increase in annual pay levels and a near fourfold rise in performance-related bonuses.

According to the Dublin-headquartered support services giant’s newly published annual report, the group’s three executive directors — chief executive Tommy Breen; chief financial officer Fergal O’Dwyer, and DCC Energy managing director Donal Murphy — shared a combined remuneration package of over €4.77m for the 12 months to the end of March, 47% higher than the €3.25m shared in the previous financial year.

While the three main management figures saw no change to their basic salaries — Mr Breen being paid €700,000; and Mr Murphy and Mr O’Dwyer both receiving €400,000 — combined bonus levels shot up from €375,000 to €1.4m.

As CEO, Mr Breen saw his total remuneration package rise 44%, from €1.64m to just under €2.4m. His annual bonus jumped from €210,000 to €700,000.

In its most recent financial year, DCC — whose interests cover energy, healthcare, and environmental subsid-iaries; as well as distribution of food, beverage, and home entertainment products — saw group revenues rise by over 25%; operating profit increase by over 27%; and dividend per share upped by 10% to just under 85.70c.

As previously reported, pre-tax profits for the year increased from €132.99m to just over €163m.

DCC’s annual report also shows a 3% year-on-year increase in non-executive director pay (covering eight figures), with the combined figure going from €651,000 to €670,000.