Raw Materials And Intermediate Goods Payment Practices Report 2023
UK Raw Materials Sector Pays Slightly Better Than Average, But Wide Disparities Persist
The Numbers
- Companies Analysed: 134
- Average PaymentCheck Score: 54.8/100
- UK Average (all sectors): 50.0/100
- Raw Materials & Intermediate Goods Advantage: +4.8 points
- Number of companies scoring 100/100: 2
- Range of Scores: 7.4/100 to 100/100
- London Average: 69.9/100 (15 companies)
- East of England Average: 61.9/100 (10 companies)
- North East Average: 61.8/100 (7 companies)
- Wales Average: 58.4/100 (7 companies)
- South West Average: 55.3/100 (7 companies)
What Stands Out
While the raw materials and intermediate goods sector edges out the UK average with a PaymentCheck score of 54.8/100, the massive range – from a near-perfect 100 to a dismal 7.4 – shows some suppliers are getting stiffed. London-based companies, averaging 69.9, are significantly better payers than the rest of the UK.
Best Payers
- AMALGAMET LIMITED - 100/100
- DEREK RAPHAEL & COMPANY LIMITED - 100/100
- METDIST LIMITED - 97.83/100
- STEMCOR LONDON LIMITED - 96.33/100
- FRESNILLO PLC - 96.2/100
Worst Payers
- ASD LIMITED - 7.4/100
- U-POL LIMITED - 27.8/100
- RAINHAM STEEL COMPANY LIMITED - 28.1/100
- SHERWIN-WILLIAMS UK LIMITED - 28.4/100
- ARDAGH GLASS LIMITED - 29.1/100
Regional Patterns
London distinguishes itself from other regions, averaging almost 15 points above the national average for the raw materials and intermediate goods sector. It's notable that the regions with the highest average payment scores (London, East of England and the North East) also have a larger number of companies within the sample, which could be indicative of greater transparency. If you're dealing with a business that pays late, you can use a late payment calculator to find out what you're owed in interest.
In conclusion, while the sector's average of 54.8 is slightly better than the UK's 50, the substantial gap between the best (100) and worst (7.4) payers highlights the variable payment culture still prevalent in raw materials and intermediate goods.
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