The highest paid director at Bowmer & Kirkland, who was formerly the best-paid boss in construction, had his pay cut 23% from 拢8.6m to 拢6.7m last year

The director, thought to be chairman John Kirkland, hit the headlines in March last year when his salary jumped 162% from the 拢3.3m he was paid in 2007.

A month later he was overtaken by Kevin Taylor, chairman of Essex firm McLaren Construction, who took home 拢10.1m last year.

The Derbyshire-based company described its performance in the year to 31 August 2008 as 鈥渟atisfactory鈥� after turnover grew 7% from 拢832.9m to 拢894.6m. Pre-tax profit rose 18% from 拢36.6m to 拢43.2m and net assets were 拢176m at the year-end.

A company statement indicated that the company expected results to be flat in 2009 owing to the recession. It said: 鈥淲e鈥檙e operating in an economic environment that has not been experienced for many years. However, the directors feel that the group is well placed to deliver results of a similar level in 2009.鈥�

The company also said it was co-operating with the Office of Fair Trading鈥檚 probe into breaches of competition law. Last year 黑洞社区 revealed it was one of nine companies facing allegations of making 鈥渃ompensation payments鈥� to losing bidders.

It said it was 鈥渆xtremely unlikely鈥� any fine would approach the maximum of 10% of turnover.

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