Clifford Devlin one of 10 hit with penalties earlier this year

Demolition contractor Clifford Devlin sank further into the red last year, its latest report and accounts show.

The firm posted a pre-tax loss of just over 拢1m for the 18 months to September 2022, up from the 拢306,000 it lost in the year to March 2021.

Turnover edged up from 拢9.9m to 拢10.2m.

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Clifford Devlin was fined 拢423,000 by the CMA earlier this year

The firm was one of 10 fined earlier this year by the Competition and Markets Authority for its role in the bid-rigging scandal in the sector.

In its accounts, the firm said it had made a provision for 拢423,615 鈥� the amount it was fined 鈥� adding that at the time the accounts were signed off, 28 June (yesterday), 鈥渋t was in discussions regarding timing for the settlement of the penalty鈥�.

Clifford Devlin was one of five firms found guilty of bid-rigging while a further five were also found guilty of bid-rigging and making so-called 鈥榗ompensation payment鈥檚鈥� under which, the CMA said, 鈥渢he designated 鈥榣osers鈥� of the contracts were set to be compensated by the winner鈥�.

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