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London Payment Practices Report 2023

•By PaymentCheck•Reports

London Payment Practices Show Strong Performance in 2023

The Numbers

  • Companies analysed: 1,000
  • Average PaymentCheck Score for London: 89.0/100
  • UK average PaymentCheck Score: 50.0/100
  • London's average score is 39.0 points above the UK average
  • Average score of the top 5 payers: 100/100
  • Average score of the bottom 5 payers: 76.3/100

What Stands Out

London companies, on average, significantly outperform the rest of the UK regarding payment practices. However, even the "worst" performing companies in the data set earned a PaymentCheck score in the high 70s, suggesting a strong baseline performance across the board.

Best Payers

The following companies achieved a perfect PaymentCheck score of 100/100, indicating exemplary payment practices:

  1. SH EURO FINANCE PLC
  2. NEO ENERGY PATHWAY LIMITED
  3. ICE DATA LLP
  4. AMALGAMET LIMITED
  5. SONIC HEALTHCARE HOLDING COMPANY

These companies are all across different sectors, from finance to energy, suggesting a commitment to timely payment regardless of industry.

Worst Payers

While the term "worst" is relative here, these companies recorded the lowest PaymentCheck scores within the analysed sample, all clustered around 76.3/100:

  1. INVESTEC BANK PLC - 76.3/100
  2. BRITNED DEVELOPMENT LIMITED - 76.3/100
  3. SOUTH ORPINGTON LEARNING ALLIANCE MULTI-ACADEMY TRUST - 76.3/100
  4. TIGER ASPECT PRODUCTIONS LIMITED - 76.3/100
  5. FTSE INTERNATIONAL LIMITED - 76.33/100

It's important to note that even these scores are respectable, still considerably better than the UK average. It is also interesting that 4 of the five have the same score.

Sector Breakdown

A few sectors stand out based on their average PaymentCheck scores:

  • Supply Chain: 98.0 (based on only 1 company, so not statistically significant)
  • Travel And Transportation: 92.8 avg (14 companies)
  • Energy: 92.4 avg (44 companies)
  • Lifestyle And Entertainment: 91.9 avg (4 companies)
  • Healthcare And Wellbeing: 91.6 avg (8 companies)

The consistently high scores across various sectors suggest that good payment practices are widespread among London businesses, but the sample size for both Supply Chain and Lifestyle And Entertainment means these figures should be viewed with caution. If you're owed money from a late invoice, you can calculate potential interest payments using this late payment calculator.

Takeaway: Despite a range of company sizes and sectors analyzed, even the 'worst' payers in London scored over 50% better than the average company across the UK.