Grafenia cuts non-exec and chairman’s pay as losses hit £1m
Listed Manchester-based print and website design firm Grafenia – which continues to undergo a significant restructuring – is to cut non-exec pay until the performance of the company improves.
The company has posted a pre-tax loss of just under £1m for the year to the end of March 2017 (2016: £260,000 loss) on a turnover of £10.45m (2016: £10.77m).
As a result the company is reducing non-executive director annual pay by 25%, from £20,000 to £15,000, whilst reducing the Chairperson pay by 50%, from £30,000 to £15,000.
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