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Wales Payment Practices Report 2024

•By PaymentCheck•Reports

Welsh Firms Significantly Outperform UK Average on Payment Practices, But Disparities Remain

The Numbers

  • Companies analysed: 90
  • Average PaymentCheck Score (Wales): 66.1/100
  • Average PaymentCheck Score (UK): 50.0/100
  • Difference between Wales and UK average: 16.1 points
  • Top PaymentCheck Score: 97.77/100 (MONEYSUPERMARKET.COM LTD)
  • Lowest PaymentCheck Score: 17.8/100 (MAGELLAN AEROSPACE UK LIMITED)

What Stands Out

The average PaymentCheck score for Welsh companies substantially exceeds the UK average, suggesting a stronger payment culture in Wales. However, the considerable gap between the best and worst payers indicates significant internal disparities.

Best Payers

These Welsh companies demonstrate exemplary payment practices, scoring above 93/100.

  1. MONEYSUPERMARKET.COM LTD - 97.77/100: The top performer, indicating very efficient payment processes.
  2. LONETREE LIMITED - 97/100: Demonstrates a strong commitment to paying on time.
  3. MODUS SERVICES LIMITED - 97/100: Aligned with Lonetree Limited, illustrating reliable payment behaviours.
  4. SOUTH HOOK LNG TERMINAL COMPANY LTD. - 96.6/100: Suggests that even large infrastructure projects are good payers.
  5. NEWSQUEST COMMUNITY MEDIA LIMITED - 93.35/100: Signifies that this media company prioritizes timely payments.

Worst Payers

These companies exhibit significantly poorer payment performance, with scores below 35/100 and should be examined more closely by their suppliers.

  1. MAGELLAN AEROSPACE UK LIMITED - 17.8/100: The lowest score reveals potentially severe payment delays.
  2. ADMIRAL LAW LIMITED - 21.3/100: Suggests potential issues with timely invoice settlement within the legal sector.
  3. SAFRAN SEATS GB LIMITED - 28.27/100: May indicate financial strain or inefficient payment workflows.
  4. ENERSYS LTD. - 32.1/100: Points to possible difficulties in managing accounts payable.
  5. DOW SILICONES UK LIMITED - 34.6/100: Shows less than ideal performance, despite being a substantial business.

Sector Breakdown

With small sample sizes in the top sectors, definitive conclusions are hard. The Software sector, with one company scoring 97.8, leads, followed by Marketing and Sales with an average of 93.2.

One-line takeaway: Despite a positive average, Magellan Aerospace's score of 17.8 drags the overall Welsh average down, highlighting the payment risk for suppliers.

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