Berkeley Group’s boss bagged another £8m pay packet last year as the firm continued to rake in profits from the growing property market.
Rob Perrins, who has run the FTSE 100 housebuilder since 2009, received £8.04million for the year to the end of April, most of which was comprised of share awards worth £7.3million under the company’s long-term incentive plan.
The sum was the same as was paid the previous year and takes Perrins total pay since he took over as chief executive to nearly £108million.
Shares bonanza: Berkeley Group’s boss Rob Perrins (pictured) received £8.04m for the year to the end of April
But the £8million last year and the year before remains well below previous bumper awards for the 58-year-old, who managed to land his biggest payday in 2017 when he was handed £28million.
The most recent award came after Berkeley reported a profit of £604million for the year to April 30, 2023.
This was up 9.5 per cent from 2022 as its properties remained in high demand despite growing signs of a slowdown in the housing market amid rising interest rates.
But the multi-million-pound payday for Perrins is likely to fuel further criticism of executive pay after it emerged over the weekend that Britain’s top hundred boardroom chiefs took home an average £4.2million last year as households across the country struggled to make ends meet.
The Mail on Sunday revealed that the 20 highest-paid FTSE 100 bosses took home almost £170million.
Perrins himself just about avoided inclusion into the top ten highest-paid bosses, pipped to the post by the £8.2million handed to Erik Engstrom, chief executive of publishing group Relx.
Topping the table was AstraZeneca chief executive Pascal Soriot, who received £15.3million for his successful leadership of the pharmaceuticals firm.
But Perrins is unlikely to be holding out for a higher payday next year as rising interest rates and a gloomy economic outlook put the brakes on the housing market.
The waning outlook was followed by data yesterday from lender Halifax which revealed house prices had dropped 2.4 per cent year-on-year in July, the fourth month of declines but slightly better than the 2.6 per cent fall recorded in June.
Berkeley shares slipped 0.5 per cent.
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