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Wales Payment Practices Report 2021

•By PaymentCheck•Reports

Welsh Companies Outpace UK Average in Payment Performance, But Extremes Exist

The Numbers

  • Companies analysed: 96
  • Average PaymentCheck Score: 62.8/100
  • UK average PaymentCheck Score: 50.0/100
  • Wales average PaymentCheck Score advantage over UK average: 12.8 points
  • Highest individual score: 98.13/100 (LONETREE LIMITED)
  • Lowest individual score: 10.7/100 (FEDERALMOGUL FRICTION PRODUCTS LIMITED)

What Stands Out

The average PaymentCheck Score for Welsh companies suggests they're generally better at paying on time than the UK average, a difference of almost 26%. However, the significant difference between the best and worst performers indicates a considerable disparity in payment practices within Wales.

Best Payers

These Welsh businesses demonstrate exceptionally strong payment performance:

  1. LONETREE LIMITED - 98.13/100: Leads the pack, nearly achieving a perfect payment score.
  2. MONEYSUPERMARKET.COM LTD - 96.4/100: Suggests prompt payment is a priority for this well-known comparison website.
  3. SOUTH HOOK LNG TERMINAL COMPANY LTD. - 95.8/100: A key player in the energy sector, indicating financial stability and good payment ethics.
  4. DRAGON LNG LIMITED - 94.1/100: Similar to SOUTH HOOK, highlights timely payments within the LNG industry in Wales.
  5. SWANSEA CITY ASSOCIATION FOOTBALL CLUB LIMITED (THE) - 92.7/100: Shows strong financial management within the sports sector in the region.

Worst Payers

These companies show worrying payment behavior:

  1. FEDERALMOGUL FRICTION PRODUCTS LIMITED - 10.7/100: By far the lowest score, suggesting significant payment issues.
  2. SAFRAN SEATS GB LIMITED - 12.93/100: Indicates serious potential delays in the supply chain and aviation sector.
  3. MAGELLAN AEROSPACE UK LIMITED - 24.9/100: Concerns regarding payment terms in the aerospace industry.
  4. NEXPERIA NEWPORT LIMITED - 27.57/100: Raising questions for firms operating in the semiconductor industry.
  5. MEMORY LANE CAKES LIMITED - 29/100: May suggest financial pressures within the food manufacturing sector.

Sector Breakdown

The small sample sizes render sector-level analysis less statistically significant. However, we do see some trends, such as:

  • Software (96.4 avg - 1 company) and Events And Venues (91.9 avg - 2 companies) are the top two sectors, whereas the data for the remainder is insufficient.

Welsh companies are doing significantly better than the UK average (62.8/100 vs 50.0/100), but you should still check late payment calculator to calculate any additional fees from late invoices.