December Quarter Analysis 2019
Bushfires burn forestry industry's ability to pay
New evidence has emerged of the economic impact of this summer’s devastating bushfires, with the time taken by forestry companies to pay their bills more than doubling, according to the latest illion Australian Late Payments Report.
- In an analysis of Australia’s 15 key industries, eight sectors paid their bills quicker than they had in the past, while seven others required their suppliers to wait longer.
- Overall, late payments across the nation improved by 7 per cent year-on-year from 11 days to 10 days, reflecting overall improved trading conditions and industry and government pressure to cut payment times.
- Of particular note was the time taken by forestry companies to pay their suppliers, which blew out by 114 per cent in December 2019, compared with a year ago.