Directors get 59pc rise

PUBLISHED : Wednesday, 23 August, 1995, 12:00am
UPDATED : Wednesday, 23 August, 1995, 12:00am

DIRECTORS at Siu-Fung Ceramics Holdings have paid themselves a 59.45 per cent rise in emoluments to $19.13 million.

The firm's attributable profit for the year to March rose in figures rescued by an exceptional, by 62 per cent to $412.24 million.

A $190.5 million exceptional was reported on the dilution of the group's effective interest in a subsidiary.

Operating profit before the exceptional fell 15.4 per cent to $253.8 million.

Directors' basic salaries, allowances and other benefits were up from $9.36 million to $13.74 million.

Performance bonuses almost doubled, from $2.63 million to $4.32 million.

There was a $1 million payment for directors' pensions in 1995, against no such payment in 1994.

One director received up to $8 million and another got up to $4.5 million.

Eight directors got a slice of the total aggregate emolument payments.