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East of England Payment Practices Report 2022

•By PaymentCheck•Reports

East of England Businesses Lead the UK in Prompt Payments, But Stark Disparities Remain

The Numbers

  • Companies analysed: 410
  • Average PaymentCheck Score: 67.2/100
  • UK average: 50.0/100
  • East of England is 17.2 points above the UK average
  • Digital Entertainment average sector score: 84.4 (5 companies)
  • Lowest individual score: 13.5/100

What Stands Out

The East of England demonstrates a significant lead in payment performance compared to the rest of the UK, boasting an average PaymentCheck Score over 34% higher. However, the considerable gap between the top and bottom payers reveals a lack of consistency across the region.

Best Payers

Five companies achieved a perfect 100/100 score, indicating exceptional payment practices. These top performers include:

  1. HILTON UK MANAGE LIMITED
  2. HILTON WORLDWIDE MANAGE LIMITED
  3. RANDSTAD CPE LIMITED
  4. GTC PIPELINES LIMITED
  5. INDEPENDENT PIPELINES LIMITED

The presence of two Hilton entities at the top suggests a strong corporate policy towards timely payments within the Hilton group.

Worst Payers

At the other end of the spectrum, some companies are struggling, or simply choosing not, to pay on time. The five lowest-scoring companies are:

  1. BALTON CP LIMITED - 13.5/100
  2. TUI UK TRANSPORT LIMITED - 15.33/100
  3. EUROAPI UK LIMITED - 18.78/100
  4. STAPLETON'S (TYRE SERVICES) LIMITED - 19.9/100
  5. HOTPOINT UK APPLIANCES LIMITED - 22.1/100

The scores highlight significant room for improvement in payment practices for these companies.

Sector Breakdown

The Digital Entertainment sector leads the way with an average score of 84.4 across just five companies, suggesting a possible link between industry dynamics and payment efficiency. The Media and Publishing (83.1) and IT (81.9) sectors also show higher-than-average performance, indicating potentially faster payment cycles within these industries. While Education scores well at 80.9, the larger sample size of 20 companies potentially makes it a more reliable indicator.

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The 70.9 point range between the highest (Hilton etc.) and lowest (Balton CP) PaymentCheck scores suggests that while the East of England is ahead of the UK average, payment consistency is far from universal.