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Midas Group reveals new finance director
Midas Group has confirmed its finance director Mike Ready has left the company, having served as group FD since July 2019.
He has been replaced by Mitie veteran Peter Skoulding.
The company said Ready has decided to move back to Australia with his family “in light of the extraordinary events that have occurred in the UK over the last year”.
Skoulding spent 15 years at Mitie from 2003, holding a variety of finance positions. He left his latest role, director of finance planning, in early 2018. Since then, he has held a range of senior finance roles at the publicly listed Smiths News.
In our second major analysis of industry payment-practice reports,
Megan Kelly delves into the government data to identify the best and worst payers in the sector. We also look beyond the headline figures to uncover the often complex reasons why some companies appear able to settle their debts more swiftly than others
Slow payment has long plagued construction. It comes as no surprise to learn that, in 2020, amid a global pandemic, a national shutdown, and with many companies struggling for cash, poor payment practices have again come to the fore.
According to
Construction News’s latest analysis of government payment data, most of which was collected after the first lockdown was enforced in March 2020, many must still wait well beyond 30 days to receive payment. Adding to cashflow challenges, nearly a third of all payments breached agreed terms, typically meaning a commitment to pay by some other deadline beyond 30 days was also missed.