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London Payment Practices Report 2024

•By PaymentCheck•Reports

London Payment Practices Significantly Outpace the UK Average in 2024

The Numbers

  • Companies analysed: 1000 in London
  • Average PaymentCheck Score: 90.5/100 for London
  • UK Average PaymentCheck Score: 50.0/100
  • London outperforms the UK average by 40.5 points
  • Top PaymentCheck Score: 100/100 (multiple companies)
  • Lowest PaymentCheck Score in the bottom 5: 79.57/100

What Stands Out

London's average payment performance is substantially better than the national average, suggesting a stronger payment culture within the capital. Even the bottom-performing companies in the London sample score relatively highly, with a low score of 79.57.

Best Payers

The following London-based companies achieved a perfect PaymentCheck score of 100/100, demonstrating exemplary payment practices:

  1. PFPL PROJECTS (WYRE FOREST) LTD
  2. MAREX SPECTRON INTERNATIONAL LIMITED
  3. RBS INVOICE FINANCE LIMITED
  4. ICBC STANDARD BANK PLC
  5. TRANSRE LONDON LIMITED

Worst Payers

While still scoring well above the national average, these companies had the lowest PaymentCheck scores within the London sample:

  1. RBC GLOBAL ASSET MANAGEMENT (UK) LIMITED - 79.57/100
  2. BRITISH INTERNATIONAL INVESTMENT PLC - 79.6/100
  3. LONDON STOCK EXCHANGE PLC - 79.6/100
  4. SOJITZ EUROPE PLC - 79.6/100
  5. SCANIA FINANCE GREAT BRITAIN LIMITED - 79.6/100

Sector Breakdown

Payment practices vary across different sectors within London:

  • Supply Chain: 96.7 avg (only 1 company in the sample)
  • Travel And Transportation: 94.4 avg (11 companies)
  • Healthcare And Wellbeing: 92.9 avg (6 companies)
  • Raw Materials And Intermediate Goods: 92.9 avg (8 companies)
  • Events And Venues: 92.8 avg (13 companies)

The Supply Chain sector reports the highest average score, but it's based on a single company, making it less representative; Travel and Transportation has the best average based on a larger sample.

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Takeaway: Although London's payment culture is strong, with an average PaymentCheck of 90.5, the narrow range of scores among the "worst" payers suggests limited payment variability within the analyzed London companies.