Swinton results improve despite £560,000 loss of office payout
Swinton Holdings has reported a turnover of £329m for 2011.
This is an improvement on the £278m reported in 2010. The company’s profit also increased, from £28m to £34m.
The group paid out a total of £1.2m in directors’ remuneration, which included £59,000 in contributions to money purchase pension schemes, and £558,000 in compensation for loss of office.
The entire Swinton board was sacked in December last year, over concerns about performance-related share scheme payments.
The current board commented on the results: “Operating profit … showed an 80%
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