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Stewart Milne earnings top £1million last year

Stewart Milne
Stewart Milne

Stewart Milne Group’s executive chairman saw his pay package swell to more than £1million during his last year as chief executive before Glenn Allison took over the role.

Mr Milne, who is also chairman of Aberdeen Football Club, earned a total of £1.073million during the year to June 30.

This was up from £824,000 in the previous 12 months as the company, which directly employs about 750 people and around 2,000 more through its subcontractors, turned hefty pre-tax losses in 2012/13 into profits of more than £3million.

He had earned substantially more from Stewart Milne Group before the financial crisis and its devastating impact on UK construction.

In 2007, the year before the credit crunch hit, Mr Milne rewarded himself with more than £7.5million in salary, benefits and dividends.

This was already down by more than £2.5million on the previous year.

This year’s Sunday Times rich list of the UK’s wealthiest people estimated his personal fortune at £135million, down from £140million in 2013.

Mr Milne, 64, received a lifetime achievement award from industry body Homes for Scotland earlier this year for his work in the housing industry.