UK Waterways Travel Sector Shows Decent, But Uneven, Payment Performance in 2023

The Numbers

• Companies analysed: 15
• Average PaymentCheck Score: 68.4/100
• UK average PaymentCheck Score: 50.0/100
• Difference between sector average and UK average: 18.4 points
• Top Payer: BAE SYSTEMS MARINE LIMITED - 97.5/100
• Bottom Payer: PRINCESS YACHTS LIMITED - 28.37/100
• Regional High: South East - 82.0 avg (2 companies)
• Regional Low: West Midlands - 66.4 avg (2 companies)

What Stands Out

While the UK Waterways Travel sector outperforms the national average by a significant 18.4 points, the disparity between the best and worst payers is stark, with a 69.13 point gap between BAE SYSTEMS MARINE and PRINCESS YACHTS. This suggests a two-tiered system where some companies prioritise timely payments while others struggle or simply don't make it a priority.

Best Payers

1. BAE SYSTEMS MARINE LIMITED - 97.5/100
2. CALMAC FERRIES LIMITED - 92.03/100
3. ARGO NAUTICAL LIMITED - 84.9/100
4. MITIE (DEFENCE) LIMITED - 84.83/100
5. SAGA CRUISES LIMITED - 80.73/100

Worst Payers

1. PRINCESS YACHTS LIMITED - 28.37/100
2. SUNSEEKER INTERNATIONAL LIMITED - 44.2/100
3. MSC CRUISE MANAGEMENT (UK) LIMITED - 44.4/100
4. TARMAC MARINE LIMITED - 47.87/100
5. PENDENNIS SHIPYARD LIMITED - 54.3/100

Regional Patterns

The South East and Scotland lead the way regionally, with average scores of 82.0 and 81.8 respectively, potentially indicating stronger financial health or a greater emphasis on prompt payments in those areas; but, crucially, they only contain 2 and 3 companies respectively which could skew those averages. London, with a larger sample size of 3 companies, sits in the middle at 70.0, so we can be more confident that reflects the reality of payment times in the area.

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The sector's average PaymentCheck score of 68.4 is respectable, but the bottom payer, PRINCESS YACHTS LIMITED, scoring only 28.37/100, highlights the need for greater consistency and improved payment practices across the board.