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Wales Payment Practices Report 2022

•By PaymentCheck•Reports

Welsh Firms Outperform UK Average on Payment Practices, But Extremes Persist

The Numbers

  • Companies analysed: 85
  • Average PaymentCheck Score in Wales: 64.8/100
  • UK average PaymentCheck Score: 50.0/100
  • Difference between Welsh and UK average: 14.8 points
  • Software sector average: 95.2/100 (based on 1 company)

What Stands Out

While Welsh businesses collectively demonstrate superior payment behaviour compared to the UK overall, the performance is highly uneven, evidenced by the significant gap between the best and worst performers. Single-company sector averages like Software's 95.2 can be misleading and don't present a clear picture of payment practices for those areas in Wales.

Best Payers

Here are the Welsh companies leading the way in prompt payments:

  1. SOUTH HOOK LNG TERMINAL COMPANY LTD. - 95.6/100
  2. MONEYSUPERMARKET.COM LTD - 95.2/100 - The price comparison giant is showing smaller suppliers how it's done
  3. NEWSQUEST MEDIA GROUP LIMITED - 90.65/100 - The media group might be reliant on payments themselves, so can appreciate speedy invoices.
  4. SHAW HEALTHCARE (GROUP) LIMITED - 90.46/100
  5. THE WELSH RUGBY UNION LIMITED - 90.3/100 - The WRU may be flush with cash, but there's no guarantee they'd pay their suppliers on time.

Worst Payers

These companies significantly lag behind, potentially creating cashflow problems for their suppliers (use our late payment calculator to see if your invoices are due).

  1. FEDERALMOGUL FRICTION PRODUCTS LIMITED - 13.3/100
  2. CHARLIES STORES LIMITED - 26.7/100
  3. SAFRAN SEATS GB LIMITED - 29/100
  4. MEMORY LANE CAKES LIMITED - 29.05/100
  5. ENERSYS LTD. - 31.6/100

Sector Breakdown

The limited sector data, often based on a single company, offers minimal insight. The 'Software' sector, for example, is represented by only one company with a score of 95.2. Care Services scored 90.5 and Sports came in at 90.3, based on averages of one company each. These figures lack statistical significance for drawing wider conclusions about sector-specific payment trends in Wales.

The fact that 85 companies averaged 64.8/100 but are dwarfed by the top payers averaging 93.33/100 and hampered by the worst payers averaging 26/100 shows the huge range of payment practices in Wales.