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Chief execs' pay tops £2m

The combined pay packets of the men in charge of the UK’s two biggest quoted contractors totalled more than £2 million last year.

Carillion chief executive John McDonough picked up the largest amount with a £500,000 annual performance bonus helping push his earnings into seven figures.

Mr McDonough’s basic pay was £580,000 but this was swollen by a £574,000 annual bonus and other benefits of £173,000 brought his total pay last year to just over £1.3 million – a 50 per cent rise on last time.

Finance director Richard Adam, who has been in the post since Chris Girling left last year, also picked up a six figure bonus with the £372,000 he picked up helping see his pay come in at £735,000.

The pay deals came after Carillion – which completed the purchase of Alfred McAlpine earlier this year – saw re-tax profits in 2007 jump 39 per cent to £94.4 million on revenues of just under £4 billion.

But the pay packet of the man heading the country’s largest quoted contractor saw a more modest rise of 20 per cent last year.

Balfour Beatty chief executive Ian Tyler picked up close to £950,000 with his basic salary of £584,500 being boosted by an annual bonus of close to £310,000. Other benefits meant his final package last year was £949,428.

Turnover at the group in 2007 hit £7.5 billion with pre-tax profits coming in at £157 million – a rise of 44 per cent on last time. Last month it continued its raid on regionakl contractors, buying Hampshire contractor Dean & Dyball for £45 million.