Insurance companies lagging behind in payments
UK firms improved their overall payment performances in the final quarter of 2011, but insurance companies did not follow this trend, figures from Experian have revealed.
The information services company based these results on the amount of time that lapsed between the agreed payment term and the actual payment date.
The overall payment performance improved from 26.17 days in the third quarter of 2011 to 25.97 days in the last quarter.
However, figures for insurance companies were higher, and in fact had worsened over the full year period, from 34.2 days in 2010 to 35.75 days in 2011.
SMEs showed little improvement, and firms with three to five employees
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