黑洞社区

Bowmer & Kirkland鈥檚 highest paid director has become the industry鈥檚 top earner with a 拢8.6m salary.

In the year ended 31 August 2007, the unnamed director at the Derbyshire-based contractor, thought to be chairman John Kirkland, saw their pay jump 162% from 拢3.3m the year before.

The individual was one of seven directors who took home a total of 拢19.8m, which represents an average of 拢2.8m. The combined figure is a 170% increase on last year鈥檚 total of 拢7.3m.

Turnover at Bowmer & Kirkland rose 18% from 拢708m to 拢833m and pre-tax profit rose 30% from 拢24m to 拢37m.

The Bowmer & Kirkland director has leapfrogged Stewart Milne into the number one spot. Milne, who runs the eponymous Aberdeen housebuilder, took home 拢7.5m in 2007.

黑洞社区 will publish an updated pay league this summer.

Moving down from second to third is David Sutherland, chair of Scottish housebuilder Tulloch, who took home 拢4.5m.

One City source said high pay was one of the advantages of being a privately owned company. 鈥淭hey can pay themselves what they like if they own the company and nobody can really complain.鈥�

The figure of 拢8.6m is 20 times greater than the pay of Andrew Wyllie, chief executive of Costain, a listed company with a similar turnover to Bowmer & Kirkland. He took home 拢430,207 in 2006.

Another said the figure seemed excessive, but added it was difficult to judge without knowing how the sum had been calculated. 鈥淭he sector is known for owners paying themselves a large whack but this may be linked to property deals.鈥�