The average time taken for NORBROOK LABORATORIES LIMITED to pay invoices has remained relatively stable over the past three periods, with a slight increase from 41 days to 42 days.
The volatility in the percentage of invoices paid within 30 days has been quite high, ranging from 51% to 28%. This suggests that the company's ability to pay invoices within 30 days has fluctuated significantly over the past three periods.
Overall, NORBROOK LABORATORIES LIMITED has maintained an average time to pay of 41-42 days over the past three periods. However, there has been a significant decrease in the percentage of invoices paid within 30 days, with a decrease from 55% to 28%. This indicates that the company may be experiencing some difficulties in paying invoices on time. Additionally, there has been an increase in the percentage of invoices paid later than 60 days, with a rise from 18% to 36%.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 02 Feb 2019 - 30 Aug 2019 | 05 Sept 2019 | 42 | 28% | 36% | 36% | 33% |
| 04 Aug 2018 - 01 Feb 2019 | 28 Feb 2019 | 42 | 30% | 30% | 40% | 29% |
| 27 Jan 2018 - 03 Aug 2018 | 03 Sept 2018 | 41 | 55% | 27% | 18% | 28% |
| 29 Jul 2017 - 26 Jan 2018 | 28 Feb 2018 | 41 | 51% | 31% | 18% | 38% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Between 30 and 60 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Queries which prevent the payment of invoices are directed to the Procurement/ Requisitioning Dept, who will contact the supplier and try to resolve the dispute. Weekly and monthly review of aged payables monitors any aged invoices.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Norbrook Laboratories Limited is a Northern Ireland based company registered at Newry, Co. Down, incorporated in 1969. Its registered business activity is the manufacture of pharmaceutical preparations. Companies House records confirm the company as active, with its registered office at Station Works, Camlough Road. The available evidence does not describe specific product lines or markets beyond this classification, but confirms the company operates within pharmaceutical manufacturing rather than as a holding or distribution entity. No further descriptive detail on operations, customers or scale is provided in the supplied evidence beyond the statutory filing information.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk