Helical chief executive Gerald Kaye received 60% of his possible annual bonus for the past year as part of a pay package of £2.1m.
Kaye’s basic salary remained at £545,000 after the developer kept base salaries flat during the year given the impact of the Covid-19 pandemic. He also received benefits of £45,000, a cash bonus of £493,000 and shares across an incentive plan and awards of £1.04m. Kaye’s total pay package was about 8% lower than a year earlier.
Helical’s bonuses are based on the company’s total property return, total accounting return and strategic objectives, including ESG targets. Finance director Tim Murphy and property director Matthew Bonning-Snook also received 60% of their possible bonuses.
Helical’s revenue dropped by 13% over the year to £38.6m in the 12 months to 31 March, its lowest annual revenue since at least the global financial crisis. The company posted a profit after tax of £17.8m, its lowest in eight years.
Net asset value was up 1.6% to £608.2m, with the portfolio value dropping from £819.6m a year ago to £740.2m.
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