ISG, Amey and Costain now industry’s quickest payers – list

Aaron Morby 1 year ago
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ISG, Amey and Costain now rank as construction’s fastest-paying main contractor settling subcontractor and supplier invoices in less than 20 days.

But latest returns from submissions to the Government’s Duty to Report on Payment Practices and Performance indicate there could be early signs that rampant cost inflation is starting to have an impact on speed of payments from main contractors as a whole.

The top 43 main contractors are taking on average nearly 32 days to pay, just over a day slower than a year ago.  Also the average % of invoices not paid within terms rose from 16% a year ago to 21%.

Main contractor payment performance – source Build UK
Firm Average days to
pay invoices
% invoices not
paid within terms
% paid invoice
within 60 days
ISG 16 26 99
Amey 17 16 98
Costain 19 9 98
Lendlease 21 1 100
Ferrovial 23 20 97
Murphy 23 13 94
Morgan Sindall 24 4 99
Canary Wharf Contractors 25 4 98
Galliford Try 26 11 99
VolkerWessels 27 23 96
Vinci 27 14 94
Sir Robert McAlpine 27 4 93
Willmott Dixon 28 12 98
John Sisk & Son 28 16 98
FM Conway 28 13 96
Henry Boot 28 14 95
Mace 28 16 95
Bouygues 28 22 94
BAM Nuttall 29 20 90
McLaren Construction 30 26 99
BAM Construct 30 28 95
M Group Services 30 21 93
Laing O’Rourke 30 17 90
Osborne 30 43 87
Bowmer and Kirkland 31 28 96
Wates 32 18 97
Tilbury Douglas 32 45 95
McLaughlin and Harvey 33 20 95
Novus Property Solutions 34 26 90
Kier 35 27 90
Graham Construction 36 4 96
Balfour Beatty 36 15 96
TSL 37 32 89
Multiplex 37 23 87
Robertson Construction 38 32 98
Seddon 38 6 97
Winvic Construction 38 11 94
Eurovia 39 19 85
Skanska 39 46 82
EQUANS 41 1 97
Northstone 48 71 78
Watkin Jones 55 14 81
Colas 63 61 68

Build UK, which has been benchmarking construction payment performance using the official returns since 2018, saw its members do a little better taking on average 30 days to pay invoices.

Over the last five years, tier one contractor Build UK members have 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.

Dr 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.”

Jo Fautley, deputy chief executive of Build UK, said: “This is a great result for construction and proof that the sector is changing the way it does business.

“There is still room for improvement, but we’ve seen consistent progress by our tier one contractor members year on year since Build UK began benchmarking payment performance, and hitting the 30-day threshold is hugely significant, particularly for the supply chain where cash flow is more critical than ever. We hope that the culture of prompt payment continues to spread throughout the sector.”

 

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