Wellington, Oct 15 NZPA - Solid Energy chief executive Don Elder earned $1.27 million in the year to June 30, according to the state owned enterprise's annual report.

This was 76 percent of the $1.67m he could have earned if all short term incentive and long term incentive targets were met.

Dr Elder's pay was more fully disclosed in this year's report. Last year it was assumed he was the employee in a table detailing employees' remuneration in the top band between $1.24m and $1.249m.

The coal miner had 217 employees with remuneration in excess of $100,000 this year compared to 170 in 2008.

Solid Energy yesterday reported a record $110.8 million profit in the year to June 30, but expressed disappointment because it was below half of forecast.