views Barratt chief pockets 847k in pay

BARRATT yesterday brought forward its full-year results and annual report to join its much-hyped rights issue, in which it revealed it had slumped to a &pound;678.9m pre-tax loss.<br /><br />Barratt said&nbsp; revenues had slid by 35.7 per cent to &pound;2.29bn over the first six months of the year to 31 June.<br /><br />Chief executive Mark Clare said: &ldquo;This has been an intensely difficult year for the group following the sharp decline in the UK housing market&rdquo;.<br /><br />According to the company&rsquo;s reports Clare has pocketed a total of &pound;847,000 for the year.<br /><br />Due to missed performance targets, he was not granted bonus payouts or&nbsp; a pay rise, and shares awarded in 2006 were not vested because long-term goals were not met. <br /><br />Finance director Mark Pain, who stepped down in July, was paid &pound;350,000. He was also awarded a one-off payment of &pound;100,000 for staying at the group until October, in order to ensure an &ldquo;orderly handover.&rdquo;