On the Beach boss nets £100k pay rise amid strong financial performance

On the Beach boss nets £100k pay rise amid strong financial performance

The boss of online travel group On the Beach saw his annual pay rise by more than £100,000 last year.

Founder and chief executive Simon Cooper’s total remuneration increased to £239,000 in 2016 against £131,000 the previous financial year.

Figures published today in the company’s annual report reveal that Cooper’s salary rose to £182,000 last year from £127,000 in 2015 and he received a bonus of £56,000 plus benefits.

His salary was further increased to £200,000 from January 1, 2016, in a review following the company’s stock market listing in September 2015.

Cooper received a maximum bonus for the year after the company achieved a pre-tax profit of more than £21.8 million – £1.7 million above the target for the year.

Chief financial officer Wendy Parry, who is to retire this month, also saw her total pay rise to £214,000 from £129,000.

The strong financial performance resulted in a bonus pot of £400,000 being distributed to executives and senior managers, the annual report for the 12 months to September 30, 2016, shows.

This came as daily unique visitors to the site in the UK rose by 12.6% year-on-year to 61.3 million.

On the Beach is to provide a trading update at its annual meeting on February 2 after projecting that wider macroeconomic trends will lead to a shortening of lead times throughout 2017, similar to those seen in the lead up to summer 2016.

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