The firm's annual report has revealed Bailey was awarded a bonus of £495,000 on top of her £555,000 basic salary during 2004, for successfully meeting targets in cutting costs, boosting operating profit and improvements across its regional titles.
However, she missed out on a further £55,000 bonus because she failed to turn around a circulation slump at the Daily Mirror. Sales at the flagship paper fell by 6.9% during 2004, to a low of 1.7m in December.
Sales of the Daily Mirror continue to fall. In February's ABCs the Daily Mirror sank 1.63% to 1,719,743. Year on year, the Mirror is down 8.86% while rival The Sun is only down 3.73%.
Last month, the group admitted the fake Iraqi prisoner abuse pictures last May, which ultimately cost then editor Piers Morgan his job, contributed to the circulation fall.
The annual report also revealed that Stephen Parker, who resigned as managing director of the regional division last year, received around £1.2m in compensation and pension fund cash. Meanwhile, last month the NUJ organised an out-of-hours protest across regional titles in its attempt to secure a 5% pay rise for journalists.
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