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Waterways Travel Payment Practices Report 2023

•By PaymentCheck•Reports

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.

If you are dealing with overdue payments, consider using a late payment calculator to understand your rights.

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.