Home Retail Group chief executive Terry Duddy took a hit of over £900,000 to his total pay last year after missing out on a performance-related bonus.

The Argos and Homebase owner’s annual report showed that Duddy’s total pay packet including salary, bonus and benefits in the year to February 28 was £858,000, compared to £1.77m last year.

Home Retail has also frozen executive pay for the current financial year.

In its full year results to February 28, Home Retail Group suffered a 24 per cent drop in profits with like-for-like sales down 4.8 per cent at Argos and sales at Homebase down 10.2 per cent.

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