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Board pay on the rise at French connection

French Connection’s board took home £1.18m last year, an increase of £279,000 on the previous 12 months.

In its financial report for the full year 2013/14, published this week, French Connection revealed that chairman and chief executive Stephen Marks received a total of £402,000, a £50,000 increase from the year before, while operations director Neil Williams’ pay rose by £43,000 to £305,000.
Incoming group finance director Adam Castleton has taken up the position on a salary of £166,000, replacing Roy Naismith, who left the role a year ago - at which time he received a total of £188,000.
French Connection is in a turnaround period following a difficult time which culminated in
the loss of £7.2m in the 12 months to the end of January 2013. In its latest results, it revealed a weak first
half followed by a much stronger six months in which it made a profit of £1.7m, shaving its overall losses down to £4.4m for the year.
As part of the turnaround plan, the board has urged shareholders not to take a dividend for the year.
In a statement, the directors said the priority was “retaining current cash reserves to support the turnaround”. Ben Cooper

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