Food & Drink Payment Performance: Minor Improvement Seen, Up 2.6 Points

The Comparison

Here's a snapshot of payment performance in the food and drink sector based on analysis of 126 companies in 2023 compared to 119 companies in 2024:

• 2023: Average payment score of 48.3 out of 100, indicating significant room for improvement.
• 2024: Average payment score edged up to 50.8 out of 100, suggesting a slight positive shift in payment behaviour.
• Company Coverage: The 2024 analysis is based on 119 companies, seven fewer than the 126 covered in 2023, which may have a minor influence on the overall sector score.
• Calculations: Use our late payment calculator to determine the impact of late payments on your cash flow.

What This Means

The 2.6-point increase, while positive, represents only a marginal improvement in payment performance within the food and drink sector, signifying that late payments continue to pose a challenge. The reduction in the number of companies analyzed might also slightly skew the comparison, however, the trend suggests that payment practices are not substantially improving.

In 2024, the average payment score in the food and drink sector was 50.8 out of 100, an increase of 2.6 points from 48.3 in 2023.