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 £1m for the 18 months to September 2022, up from the £306,000 it lost in the year to March 2021.

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

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Clifford Devlin was fined £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 £423,615 – the amount it was fined – adding that at the time the accounts were signed off, 28 June (yesterday), “it was in discussions regarding timing for the settlement of the penalty”.

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 ‘compensation payment’s’ under which, the CMA said, “the designated ‘losers’ of the contracts were set to be compensated by the winner”.

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