The chief executive of pub group Enterprise Inns was given a 28 per cent pay rise last year – including a £150,000 performance bonus – even though profits at the company dropped by a fifth.
Pre-tax profits at the Solihull firm dropped from £263 million to £208 million in the year to September.
But Ted Tuppen saw his pay rise to £540,000, plus a £147,000 performance-related bonus.
As well as the drop in profits, Enterprise also has debts worth £3.5 billion, and is engaged in a dispute with a parliamentary committee over its links with landlords.
A statement from the company’s renumeration committee said the pay rise reflected the difficulty of working in the tough financial climate.