Next chief executive Simon Wolfson almost doubled his pay last year after receiving a £1m performance bonus.

The year before Wolfson’s total pay was £831,000 which included a bonus of £123,000. This year his pay package totalled £1.74m, with £340,000 of his bonus paid in Next shares which will be deferred for two years.

Next’s finance director David Keens also enjoyed a bumper pay rise taking home £936,000 compared with £560,000 the year before and product director Christos Angelides pay grew from £585,000 to £980,000.

In its full year to January 30 Next’s pre-tax profits jumped 18% to £505m. Group revenues rose from £3.27bn to £3.4bn. Like-for-like sales were 0.5% ahead for the year.