Sainsbury's chief executive Justin King's pay package jumps 23%

King’s total remuneration increased 23% in the year to March 2013, Sainsbury’s annual report showed.

His bonus almost doubled from £514,000 to £996,000 in the period.

Sainsbury’s said the increase reflected “higher out-turns for elements of performance-related pay, and increases in the company’s share price”. It said the rise was “largely driven by strong profit and sales performance”.

King could be in line to pick up £5.8m this year if top performance targets are met.

Sainsbury’s has outpaced the other big four grocers in terms of market share growth in recent years.