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Enterprise Inns chief executive Ted Tuppen's total pay increases by £86k

By John Harrington , 20-Dec-2012
Last updated on 20-Dec-2012 at 10:49 GMT2012-12-20T10:49:31Z

Enterprise Inns chief executive Ted Tuppen's total pay increases by £86k

Enterprise Inns chief executive Ted Tuppen’s total pay increased by £86,000 to just under £1m in the company’s most recent financial year.

Tuppen’s basic salary was frozen at £640,000 and his bonus increased from £243,000 to £329,000, leaving total remuneration of the year at £996,000, according to Enterprise Inns’ Annual Report for the year to 30 September 2012, released today.

Chief operating officer Simon Townsend also saw his basic salary frozen at £384,000 and his bonus increased by £41,000 to £186,000, leaving his total remuneration at £596,000 (2011: £555,000).

Neil Smith, chief financial officer, saw his total pay increase from £421,000 to £563,000, reflecting his appointment to the board on 20 January 2011.

During the year, Enterprise reported a fall in EBITDA from £366m to £340m, although the company said it saw improved performance trends across the estate, with like-for-like net income down 1.2% against a 4.3% decline in 2011.

Profit before tax and exceptionals was £137m (2011: £157m) and revenue fell £19m to £692m. The company said like-for-like net income was +2.2% where publicans had been in occupation for over one year.