Retail Human Resources plc
Matalan family scoop £25m bonus
24 March 2009 09:08
The family who founded Matalan are in line for a £25 million bonus as the firm continues to outperform the retail sector. Founder John Hargreaves has awarded himself and his family the bonus for 2008, five times more than the £5 million dividend the family earned last year, a strong indicator that the business is trading well.
In the year to March 2008, Matalan made pre-tax profits of £53 million on sales of £1 billion. The company expects to add to its 203 out-of-town stores this year, as well as launching a franchise in the Middle East.
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