On average, main contractors now pay 92% of their invoices within 60 days and 75% within terms.
Murphy, Vinci and Morgan Sindall rank as the industry’s top three prompt payers, paying invoices in 25-27 days.
They are joined by Mace, Osborne and Amey as the half dozen main contractors paying within 30 days.
Among the industry major commercial clients Landsec and British Land achieved 17 days averages, with Bellway and Barratt leading the house builders at 25 and 26 days.
A spokesman for Build UK said: “Throughout the coronavirus pandemic, the CLC has been clear that maintaining cash flow through the industry is critical, and the latest results indicate the largest companies in the sector have taken note and are playing their part.”
In response to feedback, Build UK’s table has been expanded with more than 40 of the industry’s largest companies, including clients, house builders and contractors, to provide a more coherent picture of payment practices within construction than ever before.
For full table click here.
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