MITIE GROUP PLC
Company Information
- Company Number
- SC019230
- Registered Address
- 35 Duchess Road, Rutherglen, Glasgow, G73 1AU
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Public limited Company
- Incorporated On
- 16 July 1936
- Nature of Business
- 70100 - Activities of head offices
- Industries
- Coming Soon
- Region
- UnknownNot specified in payment practices report
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
MITIE GROUP PLC demonstrates a trend where 61% of payments are completed within 30 days, indicating a commitment to promptness for a majority of transactions. However, the average payment time of 34 days, coupled with 39% of payments extending beyond 30 days, suggests a consistent deviation from immediate settlement. Suppliers should therefore anticipate a trajectory where payments frequently fall into the 31-60 day range.
Volatility Analysis
The payment reliability for MITIE GROUP PLC shows significant volatility, with 30% of all payments being classified as late. A concerning 17% of payments extend beyond 60 days, introducing a high level of unpredictability and risk regarding invoice settlement dates. This indicates that while some payments are punctual, a substantial portion will experience significant and potentially critical delays, impacting supplier cash flow planning.
Summary Analysis
Overall, suppliers should consider MITIE GROUP PLC with awareness of both its majority promptness and significant late payment risk. Key decision factors include the supplier's tolerance for a 30% late payment rate and the ability to manage cash flow given potential 60+ day delays. Recommended risk mitigation strategies include negotiating clear payment terms, actively monitoring receivables, and building potential late payment into pricing models.
Performance Reports History
| 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 |
|---|---|---|---|---|---|---|
| 01 Sept 2019 - 31 Mar 2020 | 30 Apr 2020 | 34 | 60% | 22% | 18% | 35% |
| 01 Apr 2019 - 30 Sept 2019 | 31 Oct 2019 | 34 | 61% | 22% | 17% | 30% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 50 | 47% | 22% | 31% | 39% |
| 01 Apr 2018 - 30 Sept 2018 | 26 Oct 2018 | 40 | 53% | 24% | 23% | 66% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Payment terms are agreed with our suppliers on a case by case basis depending on the nature of work, length of relationship, and size of the supplier. The majority of our suppliers are paid on terms of 30 days from the end of the month in which the invoice is dated or better, where 14 days and prompt payment may sometimes be agreed. Depending on the agreement reached with the supplier, payment terms of 60 days from the end of the month in which a correct, undisputed and properly due VAT invoice is received may also be agreed. The business also operates a no purchase order, no pay policy, unless otherwise agreed, in exceptional circumstances, by a duly authorised representative. Invoices received, and which do not include a valid purchase order number, are rejected and returned to the third party.
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
60
Dispute Resolution Process
We recognise the strategic importance of our supply chain partners, and as such are committed to treating them fairly. Our preference is to always address disputes in a transparent and timely manner, always acting in good faith, through open and constructive discussion. If such discussions fail to resolve a dispute, an authorised representative of the supplier and the company shall, within 30 days of a written request from one party to the other, meet in good faith to resolve the dispute. If the dispute remains unresolved either the supplier or the company shall refer it to mediation in accordance with the Centre for Effective Dispute Resolution ("CEDR") Model Mediation Procedure that is in force at the date of the referral.
Other Payment Information
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
Company Summary
MITIE GROUP PLC is an active Public limited Company. Its name suggests it functions as a group of associated businesses.
The company is registered under company number SC019230 and was incorporated on 16 July 1936. Its registered office is located at 35 Duchess Road, Rutherglen, Glasgow, G73 1AU.
Public limited companies in the UK typically operate across a wide spectrum of industries. These organisations often offer diverse products and services, with many specialising in sectors such as manufacturing, retail, or business services.
