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Wales Payment Practices Report 2020

•By PaymentCheck•Reports

Welsh Firms Are Paying Suppliers Significantly Faster Than The UK Average

The Numbers

  • Companies analysed: 87
  • Average PaymentCheck Score: 63.6/100
  • UK average: 50.0/100
  • Wales outperforms the UK average by 13.6 points

What Stands Out

While Wales' overall average is impressive, the extreme disparity between the best and worst payers highlights a serious consistency problem. The top payer, Victim Support, boasts a near-perfect score, while Safran Seats GB languishes near zero, indicating drastically different attitudes towards supplier payments within the Welsh business community.

Best Payers

The top payers in Wales for 2020 demonstrate a strong commitment to prompt payments, significantly contributing to the region's higher-than-average score:

  1. VICTIM SUPPORT - 99.4/100
  2. LONETREE LIMITED - 97.5/100
  3. SOUTH HOOK LNG TERMINAL COMPANY LTD. - 96.2/100
  4. MONEYSUPERMARKET.COM LTD - 94.9/100
  5. SIMEC INTERNATIONAL UK LIMITED - 94.4/100

These companies represent a diverse range of industries, from support services to energy and finance, suggesting that prompt payment isn't confined to a specific sector.

Worst Payers

The bottom performers, unfortunately, drag down the potential for even better payment practices across Wales:

  1. SAFRAN SEATS GB LIMITED - 3.4/100
  2. NEXPERIA NEWPORT LIMITED - 22.3/100
  3. MEMORY LANE CAKES LIMITED - 26.3/100
  4. SEDA UK LIMITED - 29.3/100
  5. WYNNSTAY (AGRICULTURAL SUPPLIES) LIMITED - 32/100

The consistently low scores among these companies suggest systemic issues related to cash flow management or a deliberate strategy of delayed payments, potentially impacting their suppliers' financial stability. Suppliers struggling with late payments can use a late payment calculator to understand the potential impact.

Sector Breakdown

The data on sector payment performance in Wales is fairly thin, with most sectors represented by only one or two companies:

  • Software: 94.9 avg (1 companies)
  • Sports: 91.8 avg (2 companies)
  • Care Services: 88.7 avg (1 companies)
  • Human Resources: 87.3 avg (1 companies)
  • Events And Venues: 86.4 avg (2 companies)

With such low company counts, drawing meaningful conclusions about sector-wide payment trends is difficult. The Software and Sports sectors appear promising, but a larger sample size is needed for reliable insights.

While Welsh firms, on average, outperformed the UK in payment practices with a score of 63.6/100 versus 50.0/100, the significant range between top and bottom payers indicates a need for broader improvements in payment consistency.