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WHS' Kate Swann sees earnings drop
24.11.10 | Victoria Gallagher
W H Smith chief executive Kate Swann saw a dip in her annual earnings of almost £100,000 for the year ended 31st August 2010.
During the last year Swann's overall salary was £1.3m including both her standard salary and annual performance bonus. This was a drop from £1.4m the previous year. Her annual performance bonus stayed the same as the previous year at £787,000. Swann's salary/fees for the year stood at £525,000 and her benefits and other payments were worth £14,000.
In its annual report WHS said its high street sales dropped from £892m in 2009 to £860m. However its profit grew to £51m from £49m the year before. The retailer's travel sales grew for the year to £452m up from £448mm profit also grew from £48m to £53m.
WHS chairman Walker Boyd said the performance, "demonstrates our ability to deliver in a tough trading climate as we continue to grow our travel business, strengthen our core categories in the high atreet and create shareholder value".