Abbey boss sees pay rise 15% despite profit collapse

The boss of Irish housebuilding group Abbey saw his total pay surge by more than 15% last year, despite a fall in the group's profits and a cautious outlook regarding future trading.

According to the Co Meath-based group's newly-published annual report, executive chairman Charles Gallagher was paid a total of just under €1.28m for Abbey's latest financial year which runs to the end of April.