Insurance sector paying bills later
Companies in the insurance sector paid their bills an average of 19.78 days late in the third quarter of 2011, an increase of nearly 1.5 days on the previous three months, according to research from Experian.
The information services company reported that overall UK firms settled bills an average of 26.13 days late in July, August and September, compared to 25.26 days during April to June 2011.
The figures meant that UK firms paid their bills nearly 3.5 days slower than the same period of 2010.
The company also noted that the UK's smallest firms with one to two employees managed to limit the increase in their payment performance to half a day, the smallest increase recorded during the quarter.
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