Bargain Booze boss makes millions in share bonus
Conviviality Retail boss Diana Hunter was given 1.7 million shares in the business as a bonus after its float last year, the company’s annual report has revealed.
The shares were worth 2.7p each and Hunter cashed in around half of them last week, netting her £1.3 million. She still has shares worth £1.4 million at today’s price, and also received pay and benefits of £560,000 during the company’s first year of trading.
This included a £130,000 cash bonus for overseeing the float.
Conviviality, which owns Bargain Booze, Wine Rack, Thorougoods and BB’s Warehouse fascias, raised £64 million in the float and has since performed well.
Group profits before tax and exceptional items stand at £9.3 million, a 31.5% increase on the previous year. Average store sales per week rose 3% and the business continues to open new stores.
“These are strong results achieved during a period of significant change for our business and we are making good progress to deliver our strategy,” said Hunter.