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Waterways Travel Payment Practices Report 2024

•By PaymentCheck•Reports

Waterways Travel Sector Sails Above Average on Payments, but Stark Disparities Persist

The Numbers

  • Companies analysed: 14
  • Average PaymentCheck Score: 69.5/100
  • UK average PaymentCheck Score: 50.0/100
  • Difference between sector average and UK average: 19.5 points
  • Top Payer: BAE SYSTEMS MARINE LIMITED - 98.45/100
  • Bottom Payer: PRINCESS YACHTS LIMITED - 14.9/100

What Stands Out

The Waterways Travel sector’s average PaymentCheck score of 69.5 significantly outpaces the UK average of 50, suggesting a relatively healthier payment culture. However, this seemingly positive picture masks dramatic variations within the sector, with some firms performing exceptionally well while others lag far behind – suppliers need to be very careful with who they do business with. The difference between the best and worst payer is a massive 83.55 points, further showing these extremes.

Best Payers

  1. BAE SYSTEMS MARINE LIMITED - 98.45/100
  2. LONDON RIVER SERVICES LIMITED - 95.37/100
  3. CALMAC FERRIES LIMITED - 93.1/100
  4. ARGO NAUTICAL LIMITED - 85.37/100
  5. MITIE (DEFENCE) LIMITED - 81.1/100

Worst Payers

  1. PRINCESS YACHTS LIMITED - 14.9/100
  2. SUNSEEKER INTERNATIONAL LIMITED - 26.4/100
  3. TARMAC MARINE LIMITED - 52.47/100
  4. MSC CRUISE MANAGEMENT (UK) LIMITED - 56.17/100
  5. RAYMARINE UK LIMITED - 64.3/100

Regional Patterns

The data, while limited by sample sizes, hints at regional disparities in payment performance. An "Unknown" region averaged a score of 95.4 with a single company, while Scotland (85.0 average across 2 companies) and the South East (81.4 across 2 companies) also performed well. London, with the largest sample size (3 companies) in this data, reported a lower average of 72.4, indicating more variability within the capital.

For companies dealing with late payments, remember you can use this late payment calculator.

Takeaway: Despite a sector average of 69.5, suppliers in the Waterways Travel sector should exercise caution due to the wide range of payment performance, as Princess Yachts' score of just 14.9 starkly contrasts with BAE SYSTEMS MARINE LIMITED's near-perfect 98.45.