Paul Dacre, Daily Mail editor and Associated Newspapers editor-in-chief, was paid £1.621m last year, an increase of 8.5 per cent – confirming him as the country’s best-paid editor by far.
His salary was £1.1m, up from £1.034m last year, according to the Daily Mail and General Trust‘s annual report, out today.
He was also paid £467,000 in ‘cash allowances’– described as payments ‘in lieu of continued membership of the DMGT Senior Executives Pension Fund’– and £54,000 ‘benefits in kind”, which include the taxable value of company cars, fuel allowances and company contributions to medical insurance plans.
Despite Dacre’s rise, Associated Newspapers’ profit fell by £10m, from £83m to £73m.
Revenue increased by £2m, from £986m to £988m, but the company said ‘full colour printing, after the new Didcot plant came on stream, and promotional investment in the property and motors digital companies’caused costs to rise.
The Daily Mail’s average daily circulation for the year was 2,294,000, 1.7 per cent down year on year.
The Mail on Sunday‘s average circulation for the year was 2,250,000, 2.6 per cent down year on year.
The Evening Standard’s circulation, though, grew six per cent year on year to 290,000.
Despite the Daily Mail and Mail on Sunday’s fall, circulation revenue grew one per cent to £382m, partly due to the Daily Mail’s price rise.
Associated’s free title Metro recorded an average distribution for the year of 1,358,857, up 20 per cent year on year, and London Lite’s was 400,000, the same as the year before.
Associated Newspapers’ advertising revenue fell by £1m in 2008. Display advertising was up £4m to £354m, digital advertising was up £6m to £9m, but classified fell £11m to £86m.
Dacre was DMGT’s third best-paid employee. Padraic Fallon, chairman of Euromoney, the business information group, was paid £4.276m, of which £4.040m was a profit share. Fallon is paid 6.49 per cent of Euromoney’s pre-tax profit.
Outgoing chief executive Charles Sinclair was paid £1.872m, including a £560,000 bonus, 52 per cent of salary.