Both Sir Robert McAlpine and Laing O’Rourke have improved the time it takes them to pay their suppliers, as new reports for some construction firms were published.
Laing O’Rourke Construction and Sir Robert McAlpine now each take an average of 31 days to pay suppliers, an improvement on the 34 days both firms previously reported.
Both companies have submitted reports within the last few weeks, Laing O’Rourke for its six-month reporting period running from 1 October 2019 until 31 March 2020, and Sir Robert McAlpine for 1 November 2019 until 31 October.
O’Rourke’s performance marks a significant improvement, having been suspended from the Prompt Payment Code last year, before being reinstated in November 2019.
Other firms to report recently include Geoffrey Osborne, which has cut the average time it takes to pay invoices to 29 days from 30 days in the previous reporting period. Ilke Homes has shortened the average time it takes to pay from 24 days to 20 days according to its latest report.
Most other contractors are expected to submit their reports by the end of July.
