Build UK contractors cut average payment times to 40 days

Grant Prior 5 years ago
Share

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.”

Latest news

M&E sector leads rise in subcontractor tender activity

Tender activity grows in first quarter but concern about project delays remain
54 mins ago

Funding deal for Salford Michigan Tower job

Vermont Construction to build first 34-storey tower for developer X1
5 mins ago

Court fight continues for specialist hit by CCJ blunder

Screeding contractor still fighting bureaucracy seven months after incorrect filing
41 mins ago

Morgan Sindall bags £60m raft of NHS projects

Mid and South Essex NHS Trust plans six projects
17 hours ago

Peri buys shoring and temporary bridge specialist Mabey Hire

Scaffolding and formwork specialist expands offer
21 hours ago

Steel contractor Embrace targets £100m revenue

Growing structural steel specialist appoints COO
9 mins ago

Vinci/McAlpine go-ahead for £312m Midlands hospitals revamp

Shrewsbury and Telford Hospital NHS Trust gets full business case approval
1 day ago

Lendlease puts construction arm up for sale

After two decades of global expansion Lendlease retreats to Australia
2 days ago

Mount Anvil seals Isle of Dogs estate rebuild

Firm will build 300 new homes at East London's Tiller Road Estate
1 day ago

Northumbria Uni invites bids for £75m CHASE project

12-storey student block to be demolished for new Centre for Health and Social Equity
23 hours ago

Civils firm Akela appoints former Robertson director as MD

Framework expert Robert Ogg to lead growth at Scottish contractor
1 day ago

McLaren to build new Hertfordshire primary school

Contractor to prioritise local suppliers on High Leigh Garden Village site
23 hours ago

Developer picked for Stafford town centre regeneration

ION Developments will draw up detailed plans for mixed-use Eastgate scheme
1 day ago

Former Crossrail boss Mark Wild to lead HS2

Wild to bear down on spiralling costs and bring rejigged scheme in on time
3 days ago

Receivers in at £125m Manchester tower developer

Domis Construction walked away from scheme following doubts over funding
3 days ago

Costain A1 £260m dualling job finally gets go-ahead

Ministers sat on planning inspectors report for nearly three years
2 days ago

Election delays decision on Lower Thames Crossing

Planning decision on £1.2bn Luton airport expansion also pushed back six months
2 days ago

Caddick steps-in at former Lane End housing job

Contractor to restart phase of £262m scheme hit by administration
2 days ago

Plans in for Leeds iconic Tetley building revamp

Former brewing giant's HQ to become indoor market and offices
2 days ago

BAM wins first phase of North Devon hospital revamp

New staff accommodation to kick-off hospital redevelopment
2 days ago

McAlpine pulls out of £55m Carlisle Citadels project

University of Cumbria starts hunt for replacement contractor
7 days ago

Strabag UK suffers further big trading loss

Austrian contractor is gearing up for major presence in the UK market
6 days ago

Durham Uni picks UPP for £130m student scheme

Firm will deliver 1,000 self-catered bed spaces
6 days ago

Architects now upbeat after 10-months of work gloom

Larger practices see rising workloads in next three months
6 days ago

Motorist dies after collision with road paver

Police Scotland investigating fatal crash
7 days ago

McLaren Living appoints HG Construction for £69m scheme

Build to Rent scheme will transform former vacant car park site in Leeds city centre
7 days ago

Squibb liquidator probes £2m of “missing” plant

Machinery, cars and scrap metal have disappeared at demolition specialist
7 days ago

Galliford Try to re-enter affordable homes market

Contractor sets out new five-year plan to build margin to 4%
7 days ago

Former Sellar chief to lead civils contractor Kilnbridge

Owen Dannatt joins as new CEO as founder Dermot McDermott becomes Chairman
7 days ago

Hunt starts for nuclear fusion plant construction partner

Fusion energy plant to be built at West Burton coal power station site.
7 days ago

Contractor services