Dixons chief executive John Browett’s rewards package shrank last year after the retailer’s profits growth stalled.

Browett’s total remuneration was just over £1m in the 52 weeks to April 30, compared to almost £1.6m the previous year.

His cash bonus fell from £670,000 to £122,000, the Currys and PC World owner’s annual report showed.

Electricals retailers have been among the worst affected by the consumer downturn. Dixons’ rival Comet plunged into loss in its last year, while the Best Buy big-box opening programme is on hold.

Although Dixons issued a profit warning during the year, it held profits flat at £85.3m.