Late payment improves
Construction’s reputation for late payment was moderately repaired in the second quarter of 2012, when the industry began to pay its bills a little quicker.
According to the latest data from Experian, the global information services company, building and construction companies paid their bills more than a day and a half earlier compared to the same period in 2011.
On average, bills were paid 21.35 days beyond term in Q2 2012, compared to 21.51 days in the previous quarter and 23.07 days in Q2 2011.
All industries improved the promptness of their payments, according to the data, except for the extractive industries, whichdeteriorated from 24.09 days during Q2 2011 to 25.35 days during Q2 2012.
Best place for prompt payment is the agriculture, forestry and fishing sector, where bills were paid just 10.62 days beyond term on average last quarter.
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This article was published on 24/07/2012 (last updated on 24/07/2012).