S&SE directors share £1.1m bonuses

DIRECTORS at Perth-based utility Scottish & Southern Energy shared bonuses of more than £1.1 million last year as total pay packages edged up slightly.

Chief executive Ian Marchant received a 378,000 cash bonus and 840,000 salary as part of a 1.24m package, up 6,000 on the previous year, SSE's annual report showed. Chairman Lord Smith of Kelvin received fees of 341,000, up from 332,000.

Total boardroom pay and fees at the company rose to 4.3m from 4.2m after a year during which adjusted profits rose to more than 1.3 billion. The group's market share also grew with its customer base increasing by 300,000 to 9.65 million.

SSE said it would increase capital investment in 2012 by 18 per cent, from 1.44 billion in 2011 to 1.7bn - the top end of its planned range for annual spending to March 2015.