Contractor says it did not gain financially from practice of cover pricing
Galliford Try has said that it may appeal against the Office of Fair Trading (OFT’s) ruling on cover pricing since it did not gain financially from the practice. Although the contractor admits cover pricing it said clients did not play an inflated price.
In a statement to investors, the firm, which was fined £8.3m by the competition body, said it “will consider carefully the detail of the OFT's findings and consider whether any further action is required, including any grounds for an appeal.”
Galliford Try defended itself against the findings saying that it did not gain financially from cover pricing or from any kickbacks and that the price paid by the client was not found to have increased.
It also pointed out that three of the incidences of cover pricing took place between five and eight years ago, and that it took place in parts of the firm’s business that had been closed down or restructured.
But the firm also said it “regretted” any actions that had been found to breach the Competition Act 1998 and underlined that it did not condone any anti-competitive practice and said that it had a culture of training, checks and balances to avoid it.
Galliford Try gained the maximum reduction for cooperating fully with the OFT.
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