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Manufacturing Payment Practices Report 2020

•By PaymentCheck•Reports

UK Manufacturing Lags Behind National Average on Payment Performance

The Numbers

  • Companies analysed: 196
  • Manufacturing Average PaymentCheck Score: 49.2/100
  • UK Average PaymentCheck Score: 50.0/100
  • Difference: Manufacturing lags by 0.8 points
  • Top Payer: PROMENS PACKAGING LIMITED (100/100)
  • Bottom Payer: ADARE INTERNATIONAL LIMITED (4.3/100)
  • London Average: 54.8/100 (18 companies)

What Stands Out

The data shows that the UK manufacturing sector's payment performance in 2020 was, frankly, uninspired, falling slightly short of the national average by 0.8 points. The PaymentCheck scores reveal a wide gulf between the best and worst payers, suggesting a real disparity in how manufacturers treat their suppliers.

Best Payers

  1. PROMENS PACKAGING LIMITED - 100/100
  2. LUXFER HOLDINGS PLC - 100/100
  3. LIBERTY PRESSING SOLUTIONS (COVENTRY) LIMITED - 98.1/100
  4. STANNAH LIFT SERVICES LIMITED - 90.55/100
  5. ASSOCIATED NEWSPAPERS LIMITED - 88/100

Worst Payers

  1. ADARE INTERNATIONAL LIMITED - 4.3/100
  2. TATA STEEL UK LIMITED - 9.67/100
  3. GRAPHIC PACKAGING INTERNATIONAL LIMITED - 15.2/100
  4. FINE TUBES LIMITED - 15.9/100
  5. AMETEK AIRTECHNOLOGY GROUP LIMITED - 16.3/100

Regional Patterns

London leads the regional pack with an average PaymentCheck score of 54.8, based on 18 companies, marginally ahead of the North West and East of England, both clocking in at 54.1. The data does suggest that businesses in the capital and surrounding regions are, on average, better payers within the manufacturing sector, but the difference isn't substantial enough to draw sweeping conclusions; Northern Ireland, based on a small sample size of 4 companies, scored 52.0.

Use our late payment calculator to calculate interest on overdue invoices.

Takeaway: With a sector average of 49.2 compared to the national average of 50, nearly 200 UK manufacturing companies show minimal difference to national averages, but the presence of both a 100/100 score and a 4.3/100 score indicates some companies are significantly outperforming and underperforming the others.