Business Irish

Sunday 20 October 2019

Slark’s remuneration increases 20pc at Grafton Group

 Gavin Slark, CEO of Grafton
 Gavin Slark, CEO of Grafton
Ellie Donnelly

Ellie Donnelly

Gavin Slark, the chief executive of Grafton Group, saw his total remuneration increase by approximately 20pc in 2018 to £2m (€2.3m) from £1.7m (€1.9m).

This figure includes a basic salary of £590,000, a bonus of £657,000 – which was down on his 2017 bonus – as well as pension contributions, "other benefits," and long-term incentive awards of £606,000, according to the group’s annual report.

David Arnold, chief financial officer of Grafton, which in Ireland owns the Woodies DIY chain as well as builders merchanting outlets Chadwicks and Heiton Buckley, was also better off in 2018, with his total remuneration for the year coming in at £1.2m, up from £1m in 2017.

Grafton, whose origins are in Ireland, where it remains headquartered, reported revenue of £643m in Ireland last year, a 22pc increase on the prior year.

Meanwhile the company’s adjusted operating profit in Ireland was up 30pc to £59.2m last year.

"We see further opportunities to build on our scale in Ireland and to grow revenue organically and increase the operating profit margin," Michael Rooney, chairman of Grafton, said in the company’s annual report.

The group added that it continues to benefit from exposure to the "fast growing" Irish and Dutch markets and from strong underlying demand fundamentals in the UK market.

Overall and revenue at the group was £2.9bn in 2018, while the group's adjusted operating profit was £194.5m.

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