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OFT FINES: Galliford Try sees fine slashed 83pc

The latest six contractors to appeal against the size of their fines for cover pricing have seen their penalties slashed.

Galliford Try – one of the hardest hit by the Office of Fair Trading’s investigation - today saw its fine reduced from in excess of £8.3m to just £1,395,000, a reduction of 83.3 per cent.

In a statement to the stock market, Galliford Try said: “Galliford Try does not condone any form of anti-competitive activity and continues to maintain a rigorous competition law compliance regime across all its business.

Apollo, GF Tomlinson, G&J Seddon, Interclass and Sol Construction were also handed hefty reductions.

Apollo chief executive Dave Sheridan said: “As with other contractors involved, we are pleased the Competition Appeal Tribunal has recognised that the level of fine originally imposed by the OFT for cases of cover-pricing was excessive.”

Fines in full:

  • Galliford Try: £1,395,000 from £8,333,329
  • Apollo: £399,000 from £2,150,536
  • GF Tomlinson: £579,000 reduced from £1,269,270
  • G&J Seddon: £492,000  reduced from £1,516,646
  • Interclass: £324,000 reduced from £464,406
  • Sol Construction: £744,000 reduced from 835,702,

Click here to see the full judgement.

 

Readers' comments (3)

  • looks like the bigger the company the greater the fine reduction

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  • ...because the bigger companies tended to have the biggest fines and the biggest mistakes from the OFT

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  • But as i see it the dodgy dealing is still alive and well through "retrospective rebate schemes, contract support and othrer price rigging efforts.They have just been given tidy names to make them sound acceptable but where they still create a non competitive situation......."Preferred suppliers lists"

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