Build UK contractors maintain average payment time of 36 days
Contractor members of Build UK have maintained an average time taken to pay invoices of 36 days during the first half of 2020, despite the challenges of the coronavirus pandemic.
Build UK said that on average, contractors now pay 92% of their invoices within 60 days and 75% within terms.
Some contractors managed to improve the average time it took them to pay invoices, with Ilke Homes speeding up from an average of 24 days in the second half of 2019, to 20 days in the first half of 2020. Murphy also accelerated to 25 days, while Vinci stayed on an average of 26 days and Mace fell slightly from 26 days to 28 days.
At the other end of the table, McLaren Construction took an average of 60 days to pay, and Multiplex slowed down its payments to an average of 55 days (up from 49 days).
Build UK top 10 payers (in terms of average time taken to pay invoices)