On average the 32 leading contractors paid subcontractors within 35 days, 10 days quicker than when the trade body Build UK first started collating payment data in July 2018.
Vinci, Morgan Sindall, Sir Robert McAlpine and Sisk now rank as the promptest payers managing to pay faster than the Government target of 30 days.
They are closely followed by Willmott Dixon, Kier, Mace and Interserve who all managed to hit 30-day terms.
On average, main contractors now pay 93% of their invoices within 60 days and 79% within terms.
Among the industry’s major commercial clients Landsec and British Land achieved 19-day and 24-day averages, with Redrow and Barratt leading the house builders at 24 days.
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