Royal MailThe Royal Mail's chief executive received pay and other benefits of over £1 million last year, the company reported.

Moya Greene's salary for the last financial year was £498,000 and she also received £371,000 under a short term incentive plan, £200,000 in pension payments and £38,000 in other benefits, taking the total to £1.1 million.

Ms Greene, who took over from Adam Crozier, is also in line for payments under a long-term incentive plan provided targets are met by 2014.

Operations director Mark Higson received a total of £887,000, including a salary of £428,000, the company's remuneration report revealed.

The Royal Mail posted improved profits of £211 million today, saying it was on the way to restoring the group's financial health.

Revenues increased by 4% to £9.5 billion in the last financial year and the Royal Mail Group said it was cash-positive for the first time in four years.

The core postal business, which delivers the six-days-a-week universal service to 29 million addresses, is back in the black after four successive years of losses, making a profit of £23 million on revenues of £7.2 billion, up from a loss of £120 million last year.

The group's operating margin after modernisation costs improved to 2.2% from 0.4% last year, to £211 million from £39 million.

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