Bigger firms taking average of 30 days to settle up

Build UK members are now taking an average of 30 days to pay their bills, the group’s latest figures show.

The organisation has been benchmarking its members on their payment performance (see table below) since 2018 which has seen a marked improvement in that time.

Tier one contractor members have since reduced their average payment time from 45 to 30 days and now pay 94% of invoices within 60 days, up from 82% five years ago.

money small

Source: Shutterstock

Payment times have come down from an average of 45 days five years ago

David Hancock, construction director at the Infrastructure and Projects Authority, said: “Despite the challenging business environment of the last few years, [Build UK’s] contractor members have delivered a significant result in reducing payment terms to an average of 30 days, which is a huge step towards the Government’s target to pay all suppliers within 30 days and clearly shows the effectiveness of transparent payment reporting.”

The number of construction firms that went bust in 2021 stood at 393, down from 583 in 2020.

According to the Insolvency Service, 267 firms went under in the first nine months of last year with the remaining quarter still to report.

Sector Company Name Percentage (%) of Invoices not paid within agreed terms Average Time Taken to Pay Invoices (Days) Percentage (%) of Invoices paid within 60 days Date of Duty to Report Submission
Specialist – Interiors Parkeray Interiors 0 34 100 04/02/2022
Specialist - Interiors Stanmore 0 15 100 05/07/2022
Specialist – Concrete Byrne Brothers 1 48 91 31/01/2023
Contractor EQUANS 1 41 97 31/01/2023
Contractor Lendlease 1 21 100 27/01/2023
Specialist – Demolition McGee Group 3 44 81 22/12/2022
Client Lidl 3 42 90 22/09/2022
Specialist – Concrete AJ Morrisroe and Sons 4 39 96 31/01/2023
Specialist – Ground Engineering Roger Bullivant 4 47 86 16/01/2023
Contractor Canary Wharf Contractors 4 25 98 20/01/2023
Contractor Sir Robert McAlpine 4 27 93 30/11/2022
Contractor Morgan Sindall 4 24 99 16/01/2023
Contractor Graham Construction 4 36 96 06/10/2022
Client Sellafield 4 26 98 28/10/2022
Specialist – Concrete Getjar 5 38 90 23/09/2022
Specialist – Concrete J. Reddington 6 23 88 31/01/2023
Client Heathrow 6 23 99 30/01/2023
Contractor Seddon 6 38 97 27/01/2023
Client Rolls-Royce 6 70 26 28/07/2022
Client Aldi 6 41 95 31/01/2023
Specialist – Demolition Keltbray 6 43 78 31/05/2022
Specialist – Interiors Overbury 7 26 96 16/01/2023
Housebuilder Redrow Homes 7 23 98 30/01/2023
Client Valero Energy 7 23 99 29/01/2023
Client British Land 8 16 99 28/10/2022
Specialist – Concrete CJ O’Shea 9 40 91 24/10/2022
Specialist – Interiors Portview 9 26 96 20/12/2022
Contractor Costain 9 19 98 31/01/2023
Specialist – Steel William Hare 10 39 79 26/01/2023
Contractor Wilson James 10 31 96 26/08/2022
Client Landsec 11 22 98 26/10/2022
Contractor Galliford Try 11 26 99 30/01/2023
Client Places For People 11 29 92 28/10/2022
Contractor Winvic Construction 11 38 94 31/08/2022
Contractor Willmott Dixon 12 28 98 30/01/2023
Client St Modwen 12 23 97 24/01/2023
Specialist – Interiors Willmott Dixon Interiors 13 29 97 30/01/2023
Specialist – M&E NG Bailey 13 41 96 15/09/2022
Housebuilder Taylor Wimpey 13 32 96 30/01/2023
Contractor Murphy 13 23 94 25/01/2023
Contractor FM Conway 13 28 96 19/10/2022
Contractor Vinci 14 27 94 23/01/2023
Contractor Henry Boot 14 28 95 27/01/2023
Contractor Watkin Jones 14 55 81 31/10/2022
Specialist – Steel Billington 15 50 77 30/01/2023
Contractor Balfour Beatty 15 36 96 30/01/2023
Contractor Ilke Homes 15 26 99 20/07/2022
Specialist – M&E Crown House Technologies 15 30 86 28/10/2022
Client Tarmac 15 23 87 30/01/2023
Contractor Mace 16 28 95 30/01/2023
Contractor John Sisk & Son 16 28 98 27/01/2023
Client IM Properties 16 15 95 30/01/2023
Housebuilder Bellway Homes 16 29 97 31/08/2022
Contractor Amey 16 17 98 30/01/2023
Specialist – Concrete Expanded Structures 17 36 77 28/10/2022
Contractor Laing O’Rourke 17 30 90 28/10/2022
Client National Grid 17 24 98 28/10/2022
Specialist – Ground Engineering Van Elle 17 63 46 07/12/2022
Contractor Wates 18 32 97 27/01/2023
Specialist – Ground Engineering Bachy Soletanche 18 38 92 10/01/2023
Housebuilder Persimmon Homes 18 25 97 31/01/2023
Contractor Eurovia 19 39 85 30/01/2023
Professional Service AECOM 20 31 97 30/10/2022
Specialist – M&E TClarke 20 57 46 30/01/2023
Contractor BAM Nuttall 20 29 90 17/01/2023
Contractor McLaughlin and Harvey 20 33 95 30/01/2023
Contractor Ferrovial 20 23 97 24/01/2023
Specialist – Plant Hire Sunbelt Rentals 20 40 90 29/11/2022
Specialist – Steel Severfield 21 41 87 28/10/2022
Contractor Morrison Utility Services 21 30 93 08/09/2022
Housebuilder Crest Nicholson 21 35 92 28/11/2022
Specialist – Concrete Tamdown 22 56 60 29/10/2022
Contractor Bouygues 22 28 94 26/01/2023
Contractor VolkerWessels 23 27 96 30/01/2023
Contractor Multiplex 23 37 87 18/01/2023
Specialist – Plant Hire Gap Hire 24 69 43 17/10/2022
Specialist – Interiors BW Interiors 25 36 97 31/01/2023
Contractor Novus Property Solutions 26 34 90 30/01/2023
Contractor ISG 26 16 99 28/01/2023
Client SHE Transmission 26 30 96 31/10/2022
Contractor McLaren Construction 26 30 99 07/12/2022
Housebuilder Barratt Developments 26 20 99 30/01/2023
Specialist – Plant Hire Speedy Hire 26 59 64 03/10/2022
Client Berkeley Homes 27 29 90 29/11/2022
Contractor Kier 27 35 90 30/01/2023
Contractor BAM Construct 28 30 95 30/01/2023
Specialist – M&E Enerveo 28 27 93 10/11/2022
Contractor Bowmer and Kirkland 28 31 96 30/09/2022
Specialist – Ground Engineering Cementation Skanska 31 37 93 31/01/2023
Specialist – Concrete Carey Group 32 37 81 31/10/2022
Professional Service RLB 32 30 96 29/11/2022
Contractor Robertson Construction 32 38 98 30/01/2023
Contractor TSL 32 37 89 10/08/2022
Specialist – M&E Briggs & Forrester 33 63 38 30/11/2022
Professional Service Eurofins 33 58 54 08/04/2022
Housebuilder Miller Homes 34 40 87 30/01/2023
Housebuilder Vistry Homes 36 43 86 30/01/2023
Specialist – M&E Imtech 38 37 78 31/01/2023
Specialist – Ground Engineering Keller 39 40 87 27/01/2023
Specialist – Scaffolding Altrad Services 39 59 60 15/09/2022
Specialist – Plant Hire Select Plant Hire 39 36 85 28/10/2022
Client Great Portland Estates 42 31 91 30/10/2022
Specialist – Plant Hire Brandon Hire Station 42 59 57 28/10/2022
Contractor Osborne 43 30 87 28/10/2022
Contractor Tilbury Douglas 45 32 95 27/01/2023
Specialist – M&E SES 45 35 94 27/01/2023
Contractor Skanska 46 39 82 31/01/2023
Professional Service Arup 48 31 95 27/10/2022
Specialist - Scaffolding Brand Energy & Infrastructure 48 41 84 07/10/2022
Specialist – M&E Skanska Rashleigh Weatherfoil 50 38 87 31/01/2023
Specialist – Scaffolding Enigma Industrial Services Ltd 57 65 44 26/01/2023
Contractor Colas 61 63 68 27/01/2023
Specialist – Interiors ISG Fit Out 68 35 93 28/01/2023
Contractor Northstone 71 48 78 05/09/2022

 

 

 

Source: Build UK

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