Pay rises for bosses at housebuilder Abbey as profits fall

Pay for bosses at the Gallagher family-controlled housebuilder Abbey rose slightly over the past year, even as the company saw its profits slide.

In its annual report, which was sent to shareholders last week, the company revealed that its executive chairman Charles Gallagher, who has run the builder since 1993, saw his pay rise to €1.1 million in the year to end the of April, an increase of €18,000 on the previous year.