Express Newspapers: new riverside offices in Lower Thames Street
Express Newspapers journalists were hopeful this week that they will be as well rewarded as their boss when it comes to the end of year pay review.
Public accounts have revealed that Richard Desmond paid himself £45.8 million last year – of which £31.1 million was pension contributions. It is more than double his pay cheque for the year before.
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The payments meant that the company made pre-tax losses on paper of £3.2 million compared with a profit of £16.6 million in 2002.
Express Newspapers NUJ father of chapel Ray King said: “We are happy that he’s making lots of money, hopefully he will be as generous with us.”
Desmond’s big pay day coincides with Express Newspapers completing its move from Ludgate House, Blackfriars, to 10 Lower Thames Street.
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The Express titles had been at Blackfriars since their famous black glass Fleet Street home was sold in 1989 for £80 million.
Desmond had leased two floors of Ludgate House from former owners United News &Media. The new building, about a mile away and also on the river, was formerly used by HSBC bank.
The move has been broadly welcomed by journalists.
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