BusinessCompany NewsCentrica FD’s total pay nears £1m

Centrica FD's total pay nears £1m

Centrica FD takes home total pay of almost £1m in first year in post

Nick Luff, finance director of Centrica, owner of British Gas, took home a
total pay package of almost £1m, according to the company’s latest annual report
published today.

The package compares favourably with that of Phil Bentley, his predecessor,
who moved up last year to become managing director of British Gas, who earned
just over £1.1m in his last full year in the FD role.

Auditors PricewaterhouseCoopers earned £4.4m for the audit of the accounts,
slightly down on last year.

Centrica reported operating profit of £2.1bn on group revenues of £16.3bn.
The companies’ profitability may be controversial given consumers have faced
steep rises in energy bills this year.

Chairman Roger Carr said in the report: ‘Wholesale energy prices remain
extremely volatile and the high gas price at the start of 2008 has squeezed
retail supply margins in the UK. In these circumstances retail price increases
have been necessary in order to restore reasonable margins.’

Further reading:

Read
the annual report

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor