好色先生TV

Remuneration for the 10 best-paid directors in construction and housebuilding fell 1.3% last year, as the effects of the credit crunch began to be felt.

The finding, published in 好色先生TV鈥檚 Top 150 supplement, is in contrast to the 2006 results, when the 10 highest-earning directors increased their pay by up to 179%. The average hike was more than double the average 69% improvement in their companies鈥� pre-tax profit.

The best paid director was employed by Bowmer & Kirkland, the Derbyshire-based private contractor, who took home 拢8.6m. This was more than 拢6m more than anyone else in the industry. For the previous three years the best paid director was Stewart Milne, chair and chief executive of the Aberdeen-based housebuilder Stewart Milne Homes.

Tony Pidgley, the Berkeley Group chief executive who was the third best-paid director last year with 拢2.4m, said there would not be 鈥渁ny significant increases鈥� in pay for him or his staff in 2008. He added:

鈥淚 lead from the front: if my people aren鈥檛 getting a pay rise, neither will I.鈥�

Despite this Pidgley awarded himself a 拢31m bonus this month as part of a deal agreed four years ago.

Elsewhere in the tables, Balfour Beatty became the largest construction firm by turnover, overtaking Taylor Wimpey. Balfour reported a turnover of 拢7.5bn compared with Taylor Wimpey鈥檚 拢4.7bn. Last year, Taylor Wimpey was ahead by nearly 拢1bn.

Taylor Wimpey came last in the top 150 by pre-tax profit. The group posted a loss of 拢19.5m, the result of land writedowns in North America. Persimmon topped the pre-tax profit league with 拢583m.

Housebuilders鈥� margins remained strong in the survey period; last year the average was 16.1%, up from 15.9% in 2006. Contractors鈥� margins hit 3% for the first time in 20 years.