Europe’s top car suppliers have £5.2bn in frozen working capital, a new
report out today says.
Hackett-REL measures the working capital of the largest 1,000 European
companies, covering more than 70 industry sectors.
The findings on the car industry’s top 17 suppliers, the first in an ongoing
study, show car suppliers are being squeezed by the frontline carmakers whose
production requirements are changing so rapidly.
This excess comes from a variety of business problems such as invoices being
paid late by customers, suppliers being paid too early or inventory lying unsold
on warehouse shelves, the group said.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016