Build UK contractors cut average payment times to 40 days

Grant Prior 2 weeks ago
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Build UK members are continuing to improve their payment performance with the average time to settle bills by contractors now 40 days.

That is an improvement of five days on the last set of data compiled by the trade body which started publishing payment details 12 months ago.

Vinci, Mace and Clugston were the quickest payers at an average of 30 days with Willmott Dixon on 31.

At the other end of the table Engie took an average of 62 days, Galliford Try 54 and Multiplex 50.

Clients were the quickest payers with British Land settling bills in 14 days, Landsec 19 and Heathrow 23.

Among the specialists SSE Contracting was the fastest payer on an average of 17 days with Overbury 24 and Novus Property Solutions 29.

Meanwhile Brown and Mason took 86 days, Imtech 81, Spie 75 and Van Elle 72.

For a full interactive list of payment performance by Build UK members click here.

Build UK Deputy Chief Executive Jo Fautley said: “Over the past year, Build UK members have taken significant steps to improve payment performance within their organisations, demonstrating the value of increased transparency.

“Whilst there is still work to be done, with a number of companies recently being suspended from the Prompt Payment Code, this issue is now firmly under the spotlight at a senior level and these latest results show that the industry is serious about tackling it.”

Chair of the Construction Leadership Council Andy Mitchell said: “I welcome the publication of the latest payment results of Build UK members.

“Construction remains the only sector that has taken the initiative to publish its results in this way and, with Build UK’s leadership, firms in the sector are changing the culture of late payment and improving payment performance.”

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