The Restaurant Group, operator of the Frankie & Benny’s chain, has said that it has won “overwhelming support” from its top 10 shareholders for a controversial new executive bonus scheme. According to the Times, chief executive Andrew Page confirmed that the remuneration committee had increased the maximum payout from 100% of salary to 150% to address concerns over retention of senior staff. The report said that the extra 50% is to be paid in deferred shares after three years. The news of the scheme comes after the company yesterday reported a 12% increase in adjusted pre-tax profit to £56m for the 53 weeks to 2nd January 2011. The group, which is led by chief executive Andrew Page, experienced a 7% increase in revenue during the year to £466m and said it had reduced its debt from £47m to £20m. The company, which operates 389 restaurants and pub restaurants, saw a 1% decline in like-for-like sales against what it described as a “tough backdrop”. However, TRG said 2011 trading had started well, with like-for-like sales 3% ahead of last year, and total sales 8% ahead. Shares in the company increased by 26.25p to finish yesterday on 306p.