Devro bosses miss bonuses

By PERRY GOURLEY
Published on 16/03/2013 00:00

DEVRO’S executive directors missed out on bonuses last year despite the company reporting rising sales and increased dividends for shareholders.

Paul Neep, chairman of the Moodiesburn-based sausage skin maker’s remuneration committee, said that although operating profits had also improved during a year of “challenges and headwinds”, performance did not meet targets set.

Chief executive Peter Page’s basic salary rose to £425,000 from £370,000 but without a bonus his total pay package fell to £459,000 from £524,000.

Finance director Simon Webb saw his total package fall to £294,000 from £410,000. Devro revenues rose 5.9 per cent as demand continued to rise in the Americas, Europe and Japan.