Royal mail chief executive nets £1m
Filed under: News
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.
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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