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East of England Payment Practices Report 2023

•By PaymentCheck•Reports

East of England Leads UK in Payment Performance, But Laggards Drag Down Overall Score

The Numbers

  • 408 companies in the East of England were analysed.
  • The average PaymentCheck Score for the region is 67.7/100.
  • This is 17.7 points higher than the UK average of 50.0/100.
  • Top-performing company: Hilton Worldwide Manage Limited (100/100).
  • Bottom-performing company: TUI UK Transport Limited (14.8/100).

What Stands Out

While the East of England outperforms the rest of the UK, a significant gap exists between the top and bottom performers, indicating inconsistency in payment practices. The concentration of top scores in the Information Technology sector suggests industry-specific factors influence payment efficiency.

Best Payers

These companies demonstrate exceptional payment performance, consistently paying on time and maintaining strong supplier relationships:

  1. HILTON WORLDWIDE MANAGE LIMITED - 100/100 - Part of a global hospitality group.
  2. HILTON UK MANAGE LIMITED - 100/100 - Sister company to above.
  3. DATALYNX LIMITED - 98.51/100 - A telecommunications company.
  4. MASTERCARD PREPAID MANAGEMENT SERVICES LIMITED - 98.4/100 - Specialising in prepaid card solutions.
  5. PAYPOINT NETWORK LIMITED - 98.35/100 - Offering payment solutions for retailers.

Worst Payers

These companies exhibit concerning payment behaviours, potentially impacting their suppliers' cash flow and financial stability:

  1. TUI UK TRANSPORT LIMITED - 14.8/100 - A transportation division within TUI UK.
  2. INCENTIVE FACILITIES MANAGEMENT LIMITED - 19.5/100 - Provides facilities management services.
  3. STAPLETON'S (TYRE SERVICES) LIMITED - 21.2/100 - A tyre wholesale and distribution business.
  4. SEALED AIR LIMITED - 24.4/100 - A packaging solutions company.
  5. VOLAC INTERNATIONAL LIMITED - 24.63/100 - Specializes in nutritional products.

Sector Breakdown

The Information Technology sector leads with an average PaymentCheck Score of 85.3 (8 companies), closely followed by Digital Entertainment at 83.9 (5 companies). Education also performed well at 82.6 (19 companies). Fashion and Transportation Infrastructure have only one company each so are not especially representative.

While the East of England shows an encouraging average payment score, businesses struggling with late payments should use this late payment calculator to understand the potential financial implications.

Takeaway: While the East of England beats the UK average by 17.7 points, the lowest score of 14.8 highlights a need for payment practice improvements among certain companies.